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 Thursday.
WHEAT - Steady to up 2 cents per bushel
MGEX spring wheat, which found technical support near four-month low hit earlier this week during overnight trading, leading CBOT soft red winter wheat, K.C. hard red winter wheat higher. Short-covering also noted. Ample supplies, beneficial rains in US Plains keeping gains in check.
The US Agriculture Department said weekly export sales of wheat totaled 492,300 tonnes, in line with market forecasts.
CBOT December soft red winter wheat last traded up 1-1/4 cents at $4.43-1/4 per bushel, K.C. December hard red winter wheat was last up 1-3/4 cents at $4.37-3/4 while MGEX December spring wheat was up 7 cents at $6.17.
CORN - Up 1 to 3 cents per bushel
Mild bargain buying bounce expected after three-day slide pushed prices to their lowest since Sept. 12. Traders watching to see if December contract can break through resistance at 10-day moving average. Plentiful stocks, huge harvest expectations curbing strength.
USDA said weekly export sales of corn totaled 814,100 tonnes, topping market forecasts that ranged from 500,000 to 700,000 tonnes.
CBOT December corn last traded up 2 cents at $3.50-1/4 per bushel.
SOYBEANS - Up 3 to 5 cents per bushel
Prices firming on harvest delays stemming from rains in key production areas. The benchmark CBOT November soybean contract hit resistance at the 10-day moving average during the overnight trading session.
USDA reported weekly soybean export sales of 1.02 million tonnes, in line with market forecasts.
CME Group reported 164 soyoil deliveries against CBOT October futures There were no new soymeal deliveries.
CBOT November soybeans last traded up 4-1/4 cents $9.62-1/2 a bushel.
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