Wheat up 15-20 cents, soy up 12-16 cents, corn steady-up 2 cents

• Wheat rallying on concerns about tight supplies of high-protein offerings needed for pasta, bread and other baked goods due to coronavirus pandemic.
• Corn seen opening firm but lagging soybeans and wheat due to expectations that recent plunge in energy prices will cause long-term demand destruction in the ethanol sector.

CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Up 15 cents to 20 cents per bushel.

Wheat rallying on concerns about tight supplies of high-protein offerings needed for pasta, bread and other baked goods due to coronavirus pandemic. Weakness in US dollar lends support.

On a continuous basis, the most-active CBOT soft red winter wheat contract, K.C. hard red winter wheat and MGEX spring wheat hit their highest since Feb. 21 during the overnight trading session.

The benchmark CBOT May soft red winter wheat contract broke through technical resistance at its 50-day and 100-day moving averages as well as the high end of its 20-day Bollinger range during the overnight trading session.

CBOT May soft red winter wheat last traded up 16-1/4 cents at $5.55-1/2 per bushel. K.C. May hard red winter wheat was 15-1/2 cents higher at $4.84-1/2 a bushel and MGEX May spring wheat was last up 10-3/4 cents at $5.31-3/4 a bushel.

CORN - Steady to up 2 cents per bushel.

Corn seen opening firm but lagging soybeans and wheat due to expectations that recent plunge in energy prices will cause long-term demand destruction in the ethanol sector.

CBOT May corn last traded up 8-1/4 cents at $3.53-3/4 per bushel.

SOYBEANS - Up 12 cents to 16 cents per bushel.

Hopes for increased export demand fuel rally in the soybean market.

On a continuous basis, the most-active contract soybean futures contract hit its highest since March 11 overnight.

The benchmark CBOT May soybean futures contract broke through its 20-day moving average.

CBOT May soybeans last traded up 13-1/2 cents at $8.76 per bushel.