CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Thursday.
WHEAT - Down 1 to 4 cents per bushel
Market setting back following rally led by K.C. wheat contracts but crop concerns remain amid cold snap and dry conditions in US Plains. Technical resistance for benchmark CBOT March soft red winter wheat contract seen at high end of 20-day Bollinger range.
CBOT March soft red winter wheat last traded down 2-1/2 cents at $4.33-1/2 per bushel. K.C. March hard red winter wheat was 2-3/4 cents lower at $4.38-1/4 and MGEX March spring wheat down 2 cents at $6.17-3/4.
CORN - Steady to down 2 cents per bushel
Technical pressure hanging over corn market, with resistance for benchmark March contract seen at 50-day moving average. Strength in cash market seen limiting declines. Support found at 30-day moving average during overnight trading session.
CBOT March corn last traded down 1/2 cent at $3.52-1/2 per bushel.
SOYBEANS - Down 2 to 3 cents per bushel
Forecasts for much-needed rain in Argentina during the next two weeks weighing on soybean market. Technical support noted at 10-day moving average.
CBOT reported 21 new deliveries against expiring January soybean contract. There were zero deliveries against CBOT January soyoil contract and 300 deliveries against CBOT January soymeal contract.
CBOT March soybeans last traded down 3-1/4 cents at $9.65-1/2 per bushel.
Malaysian palm oil futures fell from a one-month high on technical selling.
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