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 Friday.
WHEAT - Down 1 to 2 cents per bushel
Lower on ample old-crop supplies. CBOT May wheat closed lower on Thursday after notching a 1-1/2 week high, a bearish technical signal.
Russia, among the world's largest wheat exporters, is considering exporting part of its 4 million tonne state grain stockpile to free up storage space before the new crop arrives, industry sources said.
Russia harvested 120.7 million tonnes of grain in 2016, up from a previously estimated 119.1 million tonnes, data from state statistics service Rosstat showed.
The condition of the French soft wheat crop was unchanged from a week earlier, with 93 percent rated good or excellent as of Monday, FranceAgriMer said.
The CBOT reported 518 deliveries against the CBOT March wheat contract and three K.C. wheat deliveries. There were no deliveries of MGEX March spring wheat.
CBOT May soft red winter wheat last down 1 cent at $4.51-3/4 per bushel; K.C. May hard red winter wheat down 1-3/4 cents at $4.68-1/2; MGEX May spring wheat down 3/4 cent at $5.52-1/4.
CORN - Up 1 to 2 cents per bushel
Headed higher ahead of the break in trade after benchmark May corn traded both sides of unchanged in early moves. Market supported by strength in soybeans and a softer dollar. May corn on track to rise 2.7 percent for the week.
The CBOT reported 118 deliveries against March corn futures.
CBOT May corn last up 1-1/4 cents at $3.80-3/4 a bushel.
SOYBEANS - Up 1 to 3 cents per bushel
Heading higher after seesaw trade in early moves; supported by technical buying after Thursday's 1.4 percent drop in the May contract, and on news of delayed soybean loadings at Brazil's northern ports due to poor weather.
The CBOT reported 568 soybean deliveries against the March futures contract, with the Term house account issuing 208 lots. There were also 253 soymeal deliveries and 489 soyoil deliveries.
Malaysian May palm oil futures rose 0.3 percent, supported by forecasts that February inventory levels could remain flat.
CBOT May soybeans last up 2-1/2 cents at $10.39-3/4 per bushel.
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