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. CST (1430 GMT) on Wednesday.
WHEAT - Down 1 to 3 cents per bushel Wheat eased slightly on pace for the third straight session of lower prices in light, technically driven trade ahead of next week's Christmas holiday. Prices were hovering near Tuesday's roughly two-week low amid abundant global supplies and limited international demand for US wheat.
The dollar was holding near the highest levels in more than a decade against a basket of currencies, making goods priced in the greenback more expensive for some importers and keeping a lid on US wheat export demand.
CBOT March soft red winter wheat last down 1-3/4 cents at $4.01-1/2 per bushel; K.C. March hard red winter wheat down 2-1/4 cents at $4.10-1/2; MGEX March spring wheat down 1/4 cent at $5.40-1/2.
CORN - Down 1 to 2 cents per bushel Corn, like wheat, has eased each day so far this week on pressure from ample stockpiles and a lack of bullish news to spark rallies in light-volume dealings before the holiday break.
Most-active CBOT March corn fell below its 100-day moving average on Tuesday and extended losses overnight on Wednesday to a fresh two-week low.
CBOT March corn last down 1-1/4 cent at $3.49, falling below the key psychological support level of $3.50.
SOYBEANS - Up 4 to 5 cents per bushel Soybeans rebounded from Tuesday's roughly one-month low on bargain buying, finding support near their 200-day moving average.
The US Department of Agriculture announced a sale of 132,000 of US soybeans to China, the fourth sale in a week of at least 100,000 tonnes to China or unknown destinations.
Malaysian palm oil futures rebounded, breaking a three-day streak of declines on position-squaring ahead of the holidays.
CBOT January soybeans last up 4-3/4 cents at $10.10 per bushel.
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