CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday.
NOTE: The US Department of Agriculture is scheduled to release its August supply/demand reports on Friday.
Wednesday is the second day of the five-day "Goldman roll" period during which some index funds roll September futures positions forward.
WHEAT - Up 1 to 2 cents per bushel
Wheat firm on fears of global crop shortfalls due to dry weather in key growing areas. Analysts expect the USDA on Friday to lower its forecasts of US and global wheat ending stocks for the 2018/19 marketing year.
Germany's 2018 grain harvest will be the lowest in 24 years after a drought and heat wave heavily damaged crops, the association of German farm cooperatives DRV said.
CBOT September soft red winter wheat last traded up 1-1/4 cents at $5.69-1/2 per bushel. K.C. September hard red winter wheat was last up 2-1/2 cents at $5.82 and MGEX September spring wheat was up 4-3/4 cents at $6.32-1/2 per bushel.
CORN - Steady to up 1 cent per bushel
Corn firm in technical moves and positioning ahead of the USDA's supply/demand reports on Friday. Analysts on average expect the government to forecast the US corn harvest at 14.411 billion bushels, based on average yield of 176.2 bushels per acre.
CBOT September corn last traded up 3/4 cent at $3.71-1/2 a bushel.
SOYBEANS - Up 2 to 4 cents per bushel
Soybeans head higher on positioning ahead of the USDA's supply/demand reports and optimism that China might resume buying US soybeans, despite ongoing US-China trade tensions.
Soybean futures on China's Dalian Commodity Exchange soared as data showing a drop in soybean imports stirred supply concerns.
China may have to start buying US soybeans again in coming weeks as other regions cannot supply enough soybeans to meet China's needs, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Analysts on average expect the USDA on Friday to raise its forecasts of US 2018 soybean yield and production.
Chicago Board of Trade reported 668 deliveries against expiring August soybean contract. There were no soymeal deliveries and 531 soyoil deliveries.
CBOT new-crop November soybeans last traded up 3-1/2 cents at $9.09-1/4 a bushel.
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