Wheat up 5-7 cents, corn up 3-5 cents, soy up 7-9 cents
DBA•Grain and soybean futures were expected to rise at the CBOT open Tuesday, with wheat up 5-7 cents per bushel, corn 3-5 cents and soybeans 7-9 cents.
1. Wheat gains
Wheat futures were expected to rise 5-7 cents per bushel. Concerns about Black Sea grain export disruptions and U.S. winter wheat planting progress below the five-year average supported the market; December soft red winter wheat was last up 6 cents at $6.98-1/4 per bushel.
2. Corn and soybeans
Corn was expected to gain 3-5 cents per bushel as traders monitored crop conditions and harvesting. The USDA rated 54% of the corn crop good to excellent, down three percentage points from a week earlier, and reported 23% harvested. Soybeans were expected to rise 7-9 cents; farmers had harvested 25%, below the five-year average of 33%.
