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. CDT (1330 GMT) on Thursday.
WHEAT - Up 8 to 10 cents per bushel
Strength in corn supported wheat futures. Traders also note round of short-covering.
Benchmark CBOT July soft red winter wheat contract broke through 30-day, 40-day and 50-day moving averages as well as high end of the 20-day Bollinger range during overnight trading.
Traders watching to see if CBOT July soft red winter wheat contract can break through Wednesday's high of $4.64 a bushel.
US Agriculture Department report on Thursday morning showed weekly export sales of wheat totaled 533,800 tonnes. Analysts forecast wheat export sales in a range from 150,000 to 600,000 tonnes.
CBOT July wheat last traded up 9-1/2 cents at $4.58-1/4 per bushel. K.C. July hard red winter wheat was 8-1/2 cents higher at $4.10-1/2, and MGEX July spring wheat rose 7-3/4 cents at $5.23.
CORN - Up 4 to 6 cents per bushel
Corn rallying on the forecast for rain next week in the US Midwest, which raises questions about whether farmers will be able to reach their acreage targets for the year.
Weekly corn export sales of 634,100 tonnes were in line with forecasts for 300,000 to 900,000 tonnes.
Benchmark CBOT July corn futures rose above 40-day and 50-day moving averages during overnight trading. The contract briefly topped the high end of its 20-day Bollinger range but ended the overnight session below that level.
CBOT July corn last traded up 5-3/4 cents at $3.75-1/4 per bushel.
SOYBEANS - Up 4 to 6 cents per bushel
Short-covering is supportive to soybeans but concerns about exports to top buyer China due to trade war to keep strength in check.
USDA reported weekly soybean export sales of 674,300 tonnes. Analysts' forecasts for the weekly total ranged from 300,000 to 1 million tonnes.
CBOT July soybeans last traded up 5 cents at $8.40-1/2 per bushel.
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