CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Thursday.
NOTE: The US Department of Agriculture's weekly export sales report is delayed until Friday due to Monday's federal holiday.
WHEAT - Up 3 to 5 cents per bushel
* Wheat higher on technical buying after a two-session slide and optimism for improving export demand for US grain. But stiff competition from Russia caps rallies.
* Russia's agriculture ministry raised its forecast for Russia's 2018 grain crop by 1 million tonnes to 110 million, Interfax news agency quoted it as saying. The ministry's forecast for Russia's 2018/19 grain exports remains unchanged at between 38 million and 39 million tonnes.
* Saudi Arabia's state grain buyer SAGO said it was seeking 475,000 tonnes of hard milling wheat in an international tender.
* CBOT December wheat last traded up 5-1/4 cents at $5.08-1/4 per bushel. K.C. December hard red winter wheat was last up 2-3/4 cents at $4.83-3/4 and MGEX December spring wheat was up 2-3/4 cents at $5.78-3/4.
CORN - Up 1 to 3 cents per bushel
* Corn higher, following strength in soybeans. CBOT December corn contract is hovering above chart support at its 50-day moving average near $3.65.
* Trade awaits weekly data on US ethanol production and stocks from the US Energy Information Administration later on Thursday.
* Consultancy Strategie Grains increased its estimate for this year's grain maize harvest in the European Union and now expects it to be larger than last year's crop.
* CBOT December corn last traded up 2-3/4 cents at $3.69-3/4 per bushel.
SOYBEANS - Up 7 to 9 cents per bushel
* Soybeans higher on optimism about US trade negotiations with top global soy buyer China, following news that Beijing has delivered a written response to US demands for wide-ranging trade reforms.
* Rallies capped by forecasts for rising US soy stockpiles following a bumper crop.
* Ahead of the National Oilseed Processors Association's monthly US crush report later on Thursday, analysts on average estimated that the trade group's members crushed 170.0 million bushels of soybeans in October.
* CBOT January soybeans last traded up 9-1/4 cents at $8.92-3/4 a bushel.
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