CBOT Trends-Wheat steady-down 1 cent, corn up 1-2, soy down 2-3

By Reuters News

CHICAGO, Oct 12 (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 Monday.

WHEAT - Steady to down 1 cent per bushel

  • Wheat turned lower as traders assessed progress towards a Black Sea peace deal that would allow Russia and Ukraine to resume ship-borne exports.

  • US President Donald Trump announced a Ukrainian-Russian energy ceasefire, but Ukraine's leader said he was still awaiting details while Russia did not comment.

  • Russia's IKAR consultancy said on Monday that it sees Russia's 2026 grain crop at 137 million metric tons, down from 138 million tons in its previous forecast, including 88 million metric tons of wheat, down from 88.5 million tons.

  • CBOT December soft red winter wheat was last 1/2 cent lower to $6.70-1/2 per bushel; K.C. December hard red winter wheat was last down 1 cent to $7.18-1/4 a bushel; Minneapolis December spring wheat was last up 1-1/4 cents to $6.96-1/2 a bushel.

CORN - Up 1 to 2 cents per bushel

  • Corn turned higher on support from buying interest after Friday's sharp falls, following USDA's surprisingly large harvest forecast.

  • US farmers will harvest more bushels of corn than previously expected, the US Department of Agriculture said on Friday, surprising traders who had expected production to decline following unfavorable weather.

  • CBOT December corn last traded 1-3/4 cents higher to $4.81-1/2 per bushel.

SOYBEANS - Down 2 to 3 cents per bushel

  • Soybeans turned lower on lingering weakness after the USDA raised its production estimate to a record-high 4.562 billion bushels, with an average yield at a record 53.1 bushels per acre.

  • China's Agriculture Ministry lowered its 2026/27 soybean output forecast by 590,000 metric tons from last month's estimate to 20.36 million tons in its October outlook, as planted area and yields missed expectations.

  • Planting of the 2026/27 season's soybeans in the world's largest producer and exporter of the crop, Brazil, is moving at its fastest pace ever to reach about one-fifth of projected planted area as rains favored field work, consultancy firm Patria AgroNegocios said on Friday.

  • CBOT November soybeans were last down 3-1/2 cents to $12.88-1/2 per bushel.

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