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 Wednesday.

NOTE: CBOT December futures contracts expire on Friday.

WHEAT – Up 2 to 4 cents per bushel

* Wheat higher in rangebound trade, with the CBOT March contract climbing back above its 50-day moving average but staying inside of Tuesday's trading range.

* Trade awaits results of Egyptian wheat purchase tender an international wheat purchase tender. The cheapest offers were for Russian what but one cargo of US hard red winter wheat was also offered.

* CBOT reported nine deliveries against the expiring December soft red winter wheat futures contract and 19 K.C. hard red winter wheat deliveries. There were no deliveries against MGEX December spring wheat futures.

* CBOT March wheat last traded up 3-3/4 cents at $5.24-3/4 per bushel. K.C. March hard red winter wheat was up 3-3/4 cents at $5.08-1/2 a bushel and MGEX March spring wheat was up 2-1/4 cents at $5.77-1/2.

CORN – Steady to up 1 cent per bushel

* Corn flat to higher, following strength in soybeans and wheat. CBOT March corn reached $3.86-1/2, its highest in a week, ahead of the break in trade.

* CBOT reported 24 deliveries against the December corn contract, which expires on Friday.

* CBOT March corn last traded up 3/4 cent at $3.85-1/2 per bushel.

SOYBEANS – Up 5 to 6 cents per bushel

* Soybeans higher on export optimism after President Donald Trump on Tuesday said that China was buying a “tremendous amount" of US soybeans and that trade talks with Beijing were already under way by telephone.

* The CBOT January contract reached $9.23 a bushel in early moves, its highest since Dec. 3.

* The US Department of Agriculture said private exporters sold 110,000 tonnes of US soybeans to unknown destinations, and another 130,632 tonnes to Mexico, all for delivery in the 2018/19 marketing year.

* The CBOT reported zero December soymeal deliveries and 40 December soyoil deliveries.

* CBOT January soybeans last traded up 5-3/4 cents at $9.20-3/4 a bushel.

Copyright Reuters, 2018