CBOT grain and soy expectations before Friday trading
CHICAGO, Sept. 4 (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 Friday.
U.S. markets will be closed on Monday in observance of the Labor Day holiday.
Wheat - down 5 to 7 cents per bushel
CBOT wheat Wv1 declined ahead of the daily pause in trade, cooling after this week's 3-1/2 year highs and ahead of a long U.S. holiday weekend. Traders are watching to see if fresh diplomatic efforts to end Russia's war with Ukraine might ease disruption to crucial Black Sea grain shipments.
Wheat futures slid on Thursday following comments by Russian President Vladimir Putin that a peace agreement to end the war in Ukraine remained possible.
The Kremlin said on Friday that the possibility of a Ukraine peace settlement remained, but that there was no concrete basis for it right now.
CBOT December soft red winter wheat WZ26 was last down 5-1/2 cents at $7.48-3/4 per bushel. K.C. December hard red winter wheat KWZ26 was last down 3-3/4 cents at $8.11-3/4 a bushel. Minneapolis December spring wheat MWEZ26 was last down 3-1/2 cents at $7.62 a bushel.
Corn - down 1 to 2 cents per bushel
CBOT corn Cv1 was lower in choppy trade as traders squared positions after a nearly month-long rally to multi-year highs, and ahead of a long U.S. holiday weekend.
Corn is maturing rapidly in the Midwest crop belt and harvest is starting in some southern areas, analysts said.
Strong export demand and concerns about lower U.S. corn yields continued to underpin the market.
FranceAgriMer estimated that 27% of the drought-hit French maize crop was in good or excellent condition as of August 31, down from 28% a week earlier and the lowest in records dating to 2011.
CBOT December corn CZ26 was last down 1-1/2 cents at $5.39-1/4 per bushel.
Soybeans - down 5 to 6 cents per bushel
CBOT soybeans Sv1 declined on profit-taking after setting 2-1/2 year highs at mid-week, and on spillover weakness from soyoil BOv1 futures.
Under its daily reporting rules, the U.S. Department of Agriculture confirmed private sales of 250,600 metric tons of U.S. soybeans to unknown destinations for delivery in the 2026-27 marketing year.
CBOT November soybeans SX26 were last down 5-3/4 cents at $13.10-1/2 per bushel.
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