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 Monday.
NOTE: The US Department of Agriculture is scheduled to release its US acreage and quarterly stocks reports on Friday at 11 a.m. CDT (1600 GMT).
Friday is also first notice day for deliveries against CBOT July futures contracts.
WHEAT - Up 4 to 8 cents per bushel
Wheat higher on technical buying and concerns about stressful heat in Europe and the Black Sea region, along with rains that have slowed the start of the US Plains winter wheat harvest.
Russian export prices for wheat fell last week as the number of offers rose after the start of harvesting and offset risks posed by hot weather, analysts said.
The supplement to the US Commodity Futures Trading Commission's weekly commitments report showed large speculators cut their net short position in CBOT wheat by about 19,000 contracts in the week to June 18, to 24,861 lots, the smallest net short since September 2018.
For K.C. hard red winter wheat, the CFTC's supplemental report showed large speculators trimmed their net short by about 1,500 contracts, to 21,961 lots.
CBOT September soft red winter wheat last traded up 7-3/4 cents at $5.33-3/4 a bushel. K.C. September hard red winter wheat was last up 8-1/2 cents at $4.61 and MGEX July spring wheat was up 6-1/2 cents at $5.42-1/2.
CORN - Up 4 to 5 cents per bushel
Corn higher on technical buying after Friday's weak close and uncertainty about US crop prospects after excessive rains during planting season and weekend storms in Missouri.
Warmer temperatures expected in the US Midwest this week should benefit crops.
The supplement to the CFTC's weekly commitments report showed large speculators expanded their net long position in CBOT corn by 32,575 contracts in the week to June 18, to 99,506 lots, the funds' biggest net long in a year.
CBOT September corn last traded up 4 cents at $4.46-1/4 a bushel.
SOYBEANS - Up 5 to 6 cents per bushel
Soybeans higher on problematic weather for late US planting progress. The USDA is expected to release its first weekly soybean condition ratings of the year later on Monday.
The CFTC's weekly commitments report showed large speculators slashed their net short position in CBOT soybeans by about 47,000 contracts in the week to June 18, to 68,119 lots, the funds' smallest net short since mid-February.
CBOT July soybeans last traded up 6 cents at $9.08-1/4 per bushel.
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