CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Tuesday.
NOTE: The US Federal Reserve's two-day Federal Open Market Committee meeting begins on Tuesday and concludes with an interest rate decision on Wednesday.
Friday is the last trading day for CBOT October options.
WHEAT - Up 2 to 3 cents per bushel Higher in rangebound trade, following early strength in soybeans and corn.
Rallies capped by hefty global wheat supplies and uncertainty about top buyer Egypt's zero-tolerance policy on the ergot fungus in imported supplies.
The USDA late Monday said the US winter wheat crop was 17 percent planted, ahead of the five-year average of 16 percent and an average of trade expectations for 15 percent.
The USDA said the US spring wheat harvest was 98 percent complete.
Wheat production in Canada's five main agricultural provinces reached 31.32 million tonnes for 2016, up 14.3 percent from 2015, according to a Statistics Canada survey based on satellite and agro-climatic data.
CBOT December soft red winter wheat last up 2-1/2 cents at $4.06-1/2 per bushel; K.C. December hard red winter wheat up 1-1/2 cents at $4.18; MGEX December spring wheat unchanged at $4.92-1/2.
CORN - Up 1 to 2 cents per bushel Higher on short-covering and spillover strength from soybeans.
Additional support from a slow start to the US harvest.
Rallies tempered by expectations for a record-large crop. CBOT December corn traded in either side of its 50-day moving average near $3.38 overnight.
The USDA late Monday said the US corn harvest was 9 percent complete, behind the five-year average of 12 percent and below an average of analyst estimates for 11 percent.
The USDA left its corn condition ratings unchanged, with 74 percent of the US crop rated as good to excellent.
China's National Grain Trade Center reported sales of 1,800 tonnes of 2012 corn at a state reserves auction, representing a small fraction of the 1.2 million tonnes available.
Corn produced in 2011 and 2013 failed to be sold.
CBOT December corn last up 2 cents at $3.39-1/4 per bushel.
SOYBEANS - Up 6 to 7 cents per bushel Heading higher for a fourth straight session on technical buying and talk of fresh Chinese demand. Concerns about a slow start to the US harvest add support. The CBOT November soybean contract hit a one-week high overnight at $9.83 a bushel and stayed above its 200-day moving average near $9.70-1/2.
The USDA said private exporters sold 110,000 tonnes of US soybeans to China for 2016/17 delivery.
The USDA late Monday said the US soybean harvest was 4 percent complete, in line with trade expectations but behind the five-year average of 5 percent.
The USDA left its soybean condition ratings unchanged, with 73 percent of the US crop rated as good to excellent.
Canola production in Canada's five main agricultural provinces reached 18.31 million tonnes for 2016, unchanged from 2015, according to a Statistics Canada survey based on satellite and agro-climatic data.
Malaysian palm oil futures surged to their highest in five months in response to tight supplies and strength in rival oils.
CBOT November soybeans last up 6-1/4 cents at $9.78-3/4 per bushel.
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