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CBOT Trends-Wheat steady-up 1 cent, corn and soybeans up 1-3

By Reuters News

CHICAGO, Oct 28 (Reuters) - The following are expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday.

WHEAT - Steady to down 1 cent per bushel

  • CBOT wheat rose as supply disruptions from the Black Sea region continued to provide a floor under the market.

  • CBOT December soft red winter wheat was last 1 cent higher to $6.11-1/4 per bushel. K.C. December hard red winter wheat was last 2 cents higher to $6.52-1/2 per bushel, and Minneapolis December spring wheat was last 1/2 cent lower to $6.27 per bushel.

CORN - Up 1 to 3 cents per bushel

  • CBOT corn faced pressure from the advancing US harvest, which could further bolster large stocks and increase world export supplies.

  • CBOT December corn was last 3 cents higher to $4.51-3/4 per bushel.

SOYBEANS - Up 1 to 3 cents per bushel

  • CBOT soybeans rose for the first time in three sessions on Wednesday, supported by bargain buying and an estimate of lower output in Brazil, although gains were capped by pressure from the ongoing US harvest.

  • Ample US harvest supplies weighed on CBOT soybean prices, while prospects of lower output in Brazil offered some support.

  • Brazil's 2026/27 soybean crop could fall to 163.6 million metric tons under a strong El Niño scenario, compared with 181.2 million tons under neutral weather conditions, a study by Serasa Experian projected on Tuesday.

  • The US soybean harvest was 79% complete as of Sunday, in line with trade expectations, and the corn harvest was 60% finished, the US Department of Agriculture said in a weekly progress report on Monday, ahead of the average estimate in a Reuters poll of 10 analysts.

  • Traders said they remained worried that a weaker Brazilian currency would weigh on US export demand for grains and soybeans.

  • US exporters sold 120,000 metric tons of soybeans to unknown destinations for 2026/2027 delivery.

  • CBOT November soybeans were last 3 cents higher to $12.32-1/4 per bushel.

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