Following are US trade expectations for the resumption of grain and soya complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Tuesday. Mexico responded in kind to US President Donald Trump's metals tariffs by imposing its own duties on American steel, while also targeting politically sensitive agricultural products from pork to bourbon.
Wheat up 7 to 9 cents per bushel. Higher on a technical bounce following Monday's 3.4 percent slide in the CBOT July contract. Worries about poor yield prospects in the Black Sea region and Australia add support. Rally limited by seasonal pressure from the start of the US winter wheat harvest.
The US Department of Agriculture late Monday said the US winter wheat harvest was 5 percent complete. The USDA also rated 37 percent of the US winter wheat crop in good to excellent condition, down from 38 percent the previous week.
The USDA rated 70 percent of the US spring wheat crop as good to excellent, near the average analyst expectation of 71 percent. CBOT July soft red winter wheat last up 9 cents at $5.14-1/4 per bushel. K.C. July hard red winter wheat last traded up 9-3/4 cents at $5.31-1/4 and MGEX July spring wheat was up 7 cents at $6.00-1/4 a bushel.
Corn up 2 to 3 cents per bushel. Corn heading higher in a technical bounce after the July contract hit a two-month low at $3.80 in early moves. Upside momentum capped by mostly favorable US weather and strong crop condition ratings. Traders eyeing chart support at the July contract's 200-day moving average at $3.82.
The USDA late Monday rated 78 percent of the corn as good to excellent, down from 79 percent a week earlier but still among the highest US corn ratings for this time of year in records dating to the 1980s. CBOT July corn last traded up 3 cents at $3.83-3/4 a bushel. Soyabeans up 1 to 2 cents per bushel.
Soyabeans higher in a technical bounce after the CBOT July contract set a two-week low below $10 in early moves. Rally capped by favorable US growing conditions and uncertainty about US trade tensions with China, the world's top soya importer. CBOT July soyabeans last up 2 cents at $10.03-3/4 per bushel.
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