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 Tuesday.
NOTE: The US Department of Agriculture was scheduled to release its weekly grain inspections and crop progress reports on Tuesday, a day later than usual due to Monday's federal holiday.
Trade awaits the USDA's monthly supply/demand reports on Thursday.
WHEAT - Down 1 to 2 cents per bushel
Lower on technical selling with the CBOT December contract falling to a four-week low overnight, and a lack of export demand for US supplies. Recent rains in the US Plains and Midwest winter wheat regions bolster prospects for the 2018 crop.
The lowest offer in the international tender from Egypt's state buyer GASC to buy wheat was $197.97 a tonne FOB for wheat sourced from Russia, traders said. No US wheat was offered.
Analysts expect the USDA in its monthly supply/demand reports on Thursday to raise its forecast of US 2017/18 wheat ending stocks.
CBOT December soft red winter wheat last traded down 3/4 cent at $4.35-1/4 per bushel, K.C. December hard red winter wheat was last down 1/4 cent at $4.30-1/2 while MGEX December spring wheat was up 1-3/4 cents at $6.25.
CORN - Steady to up 1 cent per bushel
Sideways, rangebound trade continues as traders await the USDA's weekly crop progress report later on Tuesday and its monthly supply/demand reports on Thursday.
France's farm ministry raised its estimate of the country's 2017 grain maize crop to 13.0 million tonnes from 12.75 million last month.
Analysts expect the USDA in its monthly supply/demand reports on Thursday to raise its US corn yield estimate but trim its forecast of US 2017/18 corn ending stocks.
CBOT December corn last traded up 1/2 cent at $3.50 per bushel.
SOYBEANS - Up 5 to 6 cents per bushel
Higher in a light technical bounce after Monday's late-session decline. Rains in portions of the US Midwest this week should slow harvest progress. Traders await direction from the USDA's monthly supply/demand reports on Thursday.
The USDA said private exporters sold 131,000 tonnes of US soybeans to China for delivery in the 2017/18 marketing year that began Sept. 1.
Brazilian statistics agency Conab forecast the country's 2017/18 soybean crop at between 106 million and 108.2 million tonnes, down from the 2016/17 crop of 114 million tonnes
Analysts expect the USDA in its monthly supply/demand reports on Thursday to raise its US soybean yield estimate but lower its forecast of US 2017/18 soybean ending stocks.
CME Group reported 68 soymeal deliveries and 73 soyoil deliveries against CBOT October futures.
CBOT November soybeans last traded up 5-1/2 cents at $9.72-1/4 a bushel.
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