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 Friday.
WHEAT - Up 2 to 4 cents per bushel
* Concerns about winterkill in some Midwest growing areas following severe cold snap this week supportive to wheat prices. But market still rangebound as traders await signs of a pick-up in export demand.
* Benchmark CBOT March soft red winter wheat contract rose above 20-day, 30-day, 40-day and 50-day moving averages during overnight trading session.
* CBOT March wheat last traded up 2-1/2 cents at $5.19 per bushel. K.C. March hard red winter wheat was 2-1/4 cents higher at $5.01-1/4 a bushel and MGEX March spring wheat was up 3 cents at $5.73.
CORN - Up 3 to 5 cents per bushel
* Bargain buying expected in corn after market notched its biggest losses in two weeks on Thursday. Gains in soybeans also supportive.
* Benchmark CBOT March corn contract broke through 10-day, 20-day, 30-day and 50-day moving averages during overnight session but resistance was noted at 40-day moving average.
* CBOT March corn last traded up 3 cents at $3.79-1/2 per bushel.
SOYBEANS - Up 13 to 16 cents per bushel
* Soybeans rallying on rising hopes for a trade deal with China after the world's largest soy importer offered to buy 5 million tonnes of the oilseed from the United States.
* Most-active soybean futures contract hit 7-1/2-month high overnight and ended the trading session near its peak.
* Technical support for March soybean futures noted at 200-day moving average.
* CBOT March soybeans traded up 13-1/4 cents at $9.28-1/2 a bushel.
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