Corn, wheat, and soybean futures were little changed in cautious trading ahead of the Easter holiday weekend.
Soybeans finished slightly lower on the day amid profit taking. Reports said traders were wary of sudden trade-related developments over the weekend and were reluctant to push the market too hard one way or the other. For now, however, much of US President Donald Trump’s trade war with China appears to be priced in. May beans eased 2 ¼ cents to $10.36 ½, and November was down 1 ¾ cents at $10.32 ½.
Corn trade volumes were low, with the market moving a bit lower on profit taking as well. Meanwhile, Midwest planting delays look likely. A period of active weather across the central US is expected to persist through the weekend into early next week. Multiple rounds of heavy showers and locally severe thunderstorms could lead to 5-day rainfall totals reaching 2 to 6 inches or more from central Texas into parts of the Midwest. May corn was down 2 cents at $4.82 ¼, and December lost ¾ of a cent to $4.66.
Wheat closed mixed, with a weaker US dollar offering some support. Ideas the US Soft Red Winter wheat crop could be getting too much rain underpinned the market as well. May Chicago wheat gained a penny to $5.48 ¾, May Kansas City eased a ½ cent to $5.57 ½, and May Minneapolis rose 2 ½ cents to $6.06 ¼.
