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2026-04-06 21:35:49
[CBOT Pre-Opening Preview: Wheat Down 3-5 Cents, Corn Flat to Down 2 Cents, Soybeans Up 1-5 Cents] ⑴ Chicago Board of Trade (CBOT) opening forecasts for Monday indicated that wheat futures would fall 3-5 cents per bushel due to weak export demand and expected rainfall in the U.S. Plains region, which is favorable for crop growth. Falling crude oil prices also weighed on wheat prices as the U.S. and Iran weighed their plans to end the five-week conflict. ⑵ Forecasts indicate rainfall in the eastern two-thirds of the Plains wheat belt over the next 10 days, while the westernmost third has a lower probability of rain. CBOT May soft red winter wheat fell 4 cents to $5.9425, Kansas May hard red winter wheat fell 7.25 cents to $6.085, and Minneapolis May spring wheat fell 3 cents to $6.4375. ⑶ Corn futures were flat to down 2 cents per bushel, influenced by spread trading and weaker crude oil prices. CBOT May corn fell 0.5 cents to $4.5175. (4) Soybean futures rose 1 to 5 cents per bushel, supported by spread trading and gains in soybean meal futures. Prices remained locked in a narrow range as traders assessed South American crops and U.S. export potential. CBOT May soybeans were last up 4.75 cents at $11.6825.
