CHICAGO: Following are US trade expectations for the opening of 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
* Technical selling expected to weigh on wheat futures after benchmark Chicago Board of Trade March soft red winter wheat contract hit resistance overnight as it neared its 20-day moving average.
* CBOT March wheat fell below five-day moving average during overnight trading.
* US Agriculture Department said on Thursday morning that weekly export sales of wheat were 377,100 tonnes, in line with forecasts that ranged from 250,000 to 500,000 tonnes.
* CBOT March wheat traded down 3-3/4 cents at $5.07-3/4 per bushel. K.C. March hard red winter wheat was flat at $4.92-1/4 a bushel and MGEX March spring wheat was down 1/4 cent at $5.71-1/4.
CORN - Steady to down 2 cents per bushel
* Corn market seen stuck in rangebound trade, with bargain buyers stepping in on dips. But plentiful supplies expected to limit any potential gains.
* Consolidation trade for benchmark CBOT March corn futures noted around 10-day moving average.
* US Agriculture Department said on Thursday morning that weekly export sales of corn were 1.27 million tonnes, topping forecasts that ranged from 400,000 to 950,000 tonnes.
* CBOT March corn traded down 3/4 cent at $3.72-1/2 per bushel.
SOYBEANS - Down 5 to 7 cents per bushel
* Mild profit-taking setback expected after two straight days of gains pushed soybean prices up by 3.3 percent. Trade focused on upcoming meeting between US President Donald Trump and Chinese leader Xi Jinping in Argentina.
* Traders watching to see if CBOT January soybeans contract can hold support 20-day moving average.
* US Agriculture Department said on Thursday morning that weekly export sales of soybeans were 628,800 tonnes, in line with forecasts that ranged from 400,000 to 900,000 tonnes.
* CBOT January soybeans traded 6 cents lower at $8.84-1/2 a bushel.
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