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 Thursday.
NOTE: Friday is the last trading day for CBOT November options.
WHEAT - Mixed, up 1 cent per bushel to down 1 cent Support noted from short-covering and strong weekly wheat export sales, while rallies capped by plentiful global and domestic wheat supplies.
Trade awaits results of an international wheat purchase tender from Egypt's General Authority for Supply Commodities (GASC). The tender attracted five offers of wheat, all of Russian and Romanian origin.
The US Department of Agriculture reported export sales of US wheat in the latest week at 513,800 tonnes, near the high end of trade expectations for 350,000 to 550,000 tonnes.
The USDA through its daily reporting system said private exporters sold 114,000 tonnes of US soft white wheat to unknown destinations for 2016/17 delivery.
Indian mills bought 100,000 tonnes of new-crop Australian wheat in recent deals for January shipment, traders said.
CBOT December soft red winter wheat last up 1/4 cent at $4.20-1/2 per bushel; K.C. December hard red winter wheat up 3/4 cent at $4.26; MGEX December spring wheat up 1 cent at $5.31-3/4.
CORN - Steady to down 1 cent per bushel Market nearly flat, easing after the December contract pushed through its 100-day moving average overnight and reached $3.59 a bushel, its highest since July 19. Stronger-than-expected weekly US export sales lend support. Rains seen stalling the US corn harvest in the eastern Midwest.
The USDA reported export sales of US corn in the latest week at 1,022,900 tonnes, above a range of trade expectations for 700,000 to 900,000 tonnes.
China will suspend auctions from its state corn reserves to encourage purchasing of new crop corn, the National Grain Trade Center said.
China's Dalian corn futures rallied more than 2 percent amid speculation that Beijing may introduce subsidies for corn processors in an effort to boost consumption, analysts said.
China will reduce the area planted with corn and lift soybean acreage in the next five years, said the country's cabinet, reiterating goals outlined earlier this year to adjust the nation's crop structure to better meet demand.
Strategie Grains raised its 2016/17 EU corn production forecast by 500,000 tonnes to 59.8 million.
CBOT December corn last down 1/2 cent at $3.57 per bushel.
SOYBEANS - Up 3 to 4 cents per bushel Higher on better-than-expected weekly export sales and technical buying.
The November contract pushed through its 200-day moving average and matched Tuesday's four-week high of $9.87 overnight. Rains seen slowing field work in the eastern Midwest.
The USDA reported export sales of US soybeans in the latest week at 2,008,500 tonnes, well above a range of trade expectations for 1.0 million to 1.3 million tonnes.
The USDA reported weekly soymeal export sales at 398,000 tonnes, above a range of trade expectations for 150,000 to 300,000 tonnes.
The USDA through its daily reporting system said private exporters sold 192,000 tonnes of US soybeans to unknown destinations for 2016/17 delivery.
Malaysian palm oil fell as rallies of rival vegetable oils on China's Dalian Commodity Exchange slowed and palm export demand weakened.
CBOT November soybeans last up 4 cents at $9.85-1/2 per bushel.
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