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 Wednesday.
WHEAT - Down 1 to 3 cents per bushel
Lower on technical selling and beneficial rains crossing the US Midwest and southern Plains, where farmers are seeding the 2018 winter wheat crop. CBOT December wheat stayed inside of Tuesday's trading range overnight.
CBOT December soft red winter wheat last traded down 2-1/2 cents at $4.45-1/2 per bushel, K.C. December hard red winter wheat was last down 1-1/4 cents at $4.40-1/2 while MGEX December spring wheat was up 1/2 cent at $6.12-3/4.
CORN - Steady to down 1 cent per bushel
Steady to weaker on technical selling, rising private estimates of the US crop and pressure from the ongoing harvest, despite rains slowing fieldwork this week. CBOT December corn fell to $3.48-1/4, a two-week low. Chart support noted at the contract low of $3.44-1/4, set Aug. 31.
CBOT December corn last traded down 1 cent at $3.48-1/2 per bushel.
SOYBEANS - Steady to down 1 cent per bushel
Flat to weaker in directionless trade. US harvest pressure caps rallies. CBOT November soybeans traded in a 2-cent range overnight.
Brazilian industry group Abiove estimated the country's 2017/18 soybean crop at 108.5 million tonnes, down from its month-ago forecast of 113.8 million tonnes.
China's soybean imports from the United States are likely to be delayed by at least two weeks as suppliers struggle to find high-quality beans following crop damage from hurricanes, two trade sources with knowledge of the matter said.
CME Group reported 67 soymeal deliveries and 172 soyoil deliveries against CBOT October futures.
CBOT November soybeans last traded unchanged at $9.55-1/4 a bushel.
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