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 Monday.
WHEAT - Down 2 to 3 cents per bushel
Lower on technical selling and beneficial rains in the southern US Plains that should re-charge soil moisture ahead of winter wheat planting. Market underpinned by short-covering ahead of the US Department of Agriculture's small grains and quarterly stocks reports on Friday.
CBOT December soft red winter wheat last traded down 2-1/4 cents at $4.47-1/4 per bushel, K.C. December hard red winter wheat was last down 4 cents at $4.46-1/4 while MGEX December spring wheat was down 1/2 cent at $6.34-1/4.
CORN - Down 1 to 2 cents per bushel
Lower on technical selling and profit-taking after Friday's higher close. Additional pressure from the expanding Midwest harvest.
Forecasts called for rains in the northwestern Corn Belt early this week but conditions should be dry for harvest the rest of thee week.
Unseasonably hot US weather is accelerating corn and soy crop maturity after months of concerns that lagging development could drag down yields or put some late-planted acres at risk of damage from frost, agronomists and analysts said.
CBOT December corn last traded down 1-1/2 cents at $3.52 per bushel.
SOYBEANS - Down 5 to 6 cents per bushel
Lower on seasonal pressure as the soybean harvest expands in the US Midwest, and on forecasts for welcome rains in the next 10 days in soy areas of Brazil, where farmers are preparing to plant.
CBOT November soybeans last traded down 5-1/2 cents at $9.78-3/4 a bushel.
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