Chicago Board of Trade Expectations

Here are the anticipated movements for grain and soy complex trading as the Chicago Board of Trade reopens at 8:30 a.m. CDT (1330 GMT) on Thursday.

Wheat
  • Expected to increase by 3 to 5 cents.

CBOT wheat hit a four-week peak due to concerns that dry wheat-growing regions might not receive the anticipated rainfall this weekend, according to market analysts.

Commodity Weather Group indicated that wind will potentially cause soil erosion in the southwestern Plains region on Thursday, with the western quarter of the region experiencing the driest conditions over the subsequent two weeks.

The International Grains Council has slightly lowered its global wheat production estimate, while Sovecon, a consultancy, has adjusted upwards its forecast for Russia’s wheat crop.

The U.S. Department of Agriculture (USDA) stated that U.S. wheat export sales reached 76,500 metric tons for 2024-25 and 273,900 tons for 2025-26 during the week concluding on April 10. These figures aligned with analysts’ projections.

CBOT May soft red winter wheat was recently trading up by 4 cents at $5.51-3/4 per bushel. K.C. May hard red winter wheat saw an increase of 7-1/2 cents, reaching $5.65-1/2 a bushel, while Minneapolis May spring wheat increased by 4-1/4 cents to $6.08 a bushel.

A weaker US dollar is providing upward momentum for wheat prices.

Corn
  • Projected to remain steady to 1 cent higher.

Corn futures are stabilizing after experiencing a rise to a seven-week high on Wednesday, traders observed.

The International Grains Council has adjusted upwards its worldwide corn production outlook.

Weekly U.S. corn export sales amounted to 1.6 million metric tons for the 2024-25 period, consistent with analysts’ expectations.

CBOT May corn was last recorded up by 3/4 cent at $4.85 per bushel.

Soybeans
  • Anticipated to rise by 3 to 5 cents.

Market participants are closely monitoring U.S. planting progress, noting positive advancements made by farmers this week.

Commodity Weather Group has cautioned that rainfall could delay Midwest seedings through the weekend.

The USDA reported weekly U.S. soybean export sales of 554,800 metric tons for 2024-25, meeting expectations. Within this figure, sales to China, the leading importer, totaled 72,791 metric tons.

Trade experts are keenly observing developments in the U.S.-China trade landscape.

CBOT May soybeans were last trading higher by 4-1/4 cents, reaching $10.43 per bushel.