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 Friday.
NOTE: Friday is the last trading day for CBOT September options.
WHEAT - Up 1 to 2 cents per bushel
Firm on technical buying and short-covering a day after nearby contracts fell to contract lows. Rallies limited by plentiful global wheat supplies.
Algerian state grain agency OAIC bought around 590,000 tonnes of milling wheat in a tender that closed on Thursday, European traders said. The origin is optional. Traders suspected the wheat may be sourced in France and the Baltic States.
CBOT December soft red winter wheat last traded up 1-1/4 cents at $4.35-3/4 per bushel, K.C. December hard red winter wheat was up 1-1/2 cents at $4.34-3/4 while MGEX December spring wheat rose 2-1/4 cents to $6.71.
CORN - Steady to down 1 cent per bushel
Steady to lower in choppy trading the day after nearby months set contract lows. Plentiful global grain supplies and expectations of a sizable US harvest hang over the market.
Crop scouts on Farm Journal Midwest Crop Tour late on Thursday said corn yield potential in Minnesota was above average, while Iowa's was below average.
Farm Journal's Pro Farmer newsletter was expected to release its US corn and soybean production estimates later on Friday.
CBOT December corn last traded down 1/2 cent at $3.55-3/4 per bushel.
SOYBEANS - Down 1 to 2 cents per bushel
Light technical setback after a three-session climb in the benchmark November soybean contract. Fresh export sales may lend support.
The US Department of Agriculture said private exporters sold 132,000 tonnes of US soybeans to China for delivery during the 2017/18 marketing year.
The USDA also said private exporters sold 105,500 tonnes of US soymeal to Thailand for 2017/18 delivery.
The annual Farm Journal Midwest Crop Tour late on Thursday said soybean pod counts were below average in Iowa and Minnesota.
CBOT November soybeans last traded down 1-1/4 cents at $9.45-1/4 a bushel.
Comments
Comments are closed for this article.