CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.
NOTE: CBOT grains and soy are scheduled close early Monday at 12:05 p.m. CDT (1705 GMT) ahead of Tuesday's US Independence Day holiday. Trade reopens Wednesday at 8:30 a.m. CDT (1330 GMT).
The US Department of Agriculture's weekly Crop Progress report is delayed until Wednesday.
WHEAT - Up 8 to 12 cents per bushel
Higher on strength in Minneapolis Grain Exchange (MGEX) spring wheat futures tied to forecasts for more stressful weather in the northern US Plains. Front-month CBOT wheat touched its highest level since November 2015 in early moves. MGEX wheat set across-the-board contract highs, with most-active September reaching $8.12-3/4 a bushel before paring gains.
The USDA said private exporters sold 140,000 tonnes of US wheat to unknown destinations, including 70,000 tonnes of hard red winter wheat and 70,000 tonnes of soft white wheat, all for delivery in the 2017/18 marketing year that began June 1.
The CBOT reported 253 July wheat deliveries and 709 deliveries of K.C. hard red winter wheat. The MGEX reported 503 July spring wheat deliveries.
Supplemental data from the US Commodity Futures Trading Commission showed large speculators cut their net short position in CBOT wheat by 11,963 contracts, to 63,485 lots.
CBOT September soft red winter wheat last up 11-1/2 cents at $5.37-1/2 per bushel; K.C. September hard red winter wheat up 14-1/4 cents at $5.41-1/2; MGEX September spring wheat last up 33-1/4 cents at $8.05.
CORN - Up 5 to 7 cents per bushel
Higher on technical buying and short-covering, and on fears that hot and dry conditions in the northern US Plains might spread into the northwest portions of the Corn Belt.
The USDA said private exporters sold 114,300 tonnes of US corn to Mexico, including 22,860 tonnes for 2017/2018 delivery and 91,440 tonnes for 2018/19.
Supplemental data from the US CFTC showed large speculators widened their net short position in CBOT corn by 55,228 contracts in the week to June 27, to 150,516 lots.
The CBOT reported 1,938 deliveries against CBOT July corn futures.
CBOT September corn last up 7 cents at $3.88 per bushel.
SOYBEANS - Up 20 to 22 cents per bushel
Higher following wheat and corn. Additional support from the USDA's lower-than-expected figures for US soybean plantings and June 1 stocks, released on Friday.
The USDA said private exporters sold 120,650 tonnes of US soymeal to Mexico, including 92,540 tonnes for 2017/18 delivery and 28,110 tonnes for 2018/19.
Supplemental data from the US CFTC showed large speculators expanded their net short position in CBOT soybeans by 30,965 contracts, to 146,696 lots.
The CBOT reported 1,045 deliveries against CBOT July soybean futures, along with 22 soymeal deliveries and 138 soyoil deliveries.
CBOT August soybeans last up 21-1/4 cents at $9.68-1/4 per bushel.
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