U.S. Grain and Soy Complex Trading Expectations

Here’s what to expect as grain and soy complex trading resumes at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) this Monday.

Wheat

  • Projected decline: 10 to 11 cents per bushel

Wheat futures are anticipated to decrease due to favorable rainfall in U.S. wheat-producing areas and ongoing concerns about demand.

Russian wheat exports for April are estimated to reach 2.2 million metric tons, a rise from March’s 1.9 million tons.

As of the latest trade, CBOT July soft red winter wheat was down 10-3/4 cents, priced at $5.34-1/4 per bushel. K.C. July hard red winter wheat decreased by 8-3/4 cents to $5.42-1/4 a bushel, while Minneapolis July spring wheat fell by 9-1/4 cents to $5.97 a bushel.

Corn

  • Projected decline: 6 to 7 cents per bushel

Corn futures are expected to drop on Monday amid uncertainty regarding the status of U.S.-China trade negotiations.

U.S. Treasury Secretary commented on Sunday that he had not engaged in discussions about tariffs with Chinese authorities and was unsure if President Trump had communicated with his Chinese counterpart.

Previous reports of China exempting certain U.S. goods from tariffs had raised hopes for de-escalation. However, traders suggest that Chinese tariffs will likely continue to impede U.S. soybean and grain exports to China.

CBOT July corn was last down 6 cents, trading at $4.79-3/4 per bushel.

Soybeans

  • Projected decline: 5 to 6 cents per bushel

Soybean values are also anticipated to fall due to market ambiguity surrounding the U.S.-China trade talks and sustained worries about demand for U.S. soybeans from China, the largest importer.

According to an analyst report, planting disruptions are expected to be minimal due to ongoing rainfall across the U.S. Midwest.

CBOT July soybeans were recently down 5-1/2 cents, trading at $10.53-3/4 per bushel.