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Jun 07, 2020 PRINT EDITION

CBOT Trends - Soy up 3-5 cents, corn up 1-2 cents, wheat up 1-4 cents

CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Tr

December 28, 2018

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 Friday.

NOTE: US Department of Agriculture weekly export sales data and the US Commodity Futures Trading Commission's Commitments of Traders report were delayed indefinitely amid a partial government shutdown.

WHEAT - Up 1 to 4 cents per bushel

* Wheat extended small gains following the technical reversal higher late in Thursday's session. Prices buoyed in part by bargain buying, with Chicago wheat futures holding above Thursday's multiweek lows and MGEX spring wheat bouncing from life-of-contract lows.

* Wheat still anchored by expectations that Russia will continue to dominate global wheat export markets and that US spring wheat could lose market share in the key Japanese market amid multilateral trade agreements that exclude the United States.

* CBOT March wheat last traded up 2-1/2 cents at $5.13 per bushel. K.C. March hard red winter wheat was up 1-3/4 cents at $4.96-3/4 a bushel and MGEX March spring wheat up 4-3/4 cents at $5.57.

CORN - Up 1 to 2 cents per bushel

* Corn on pace to rise second straight session, lifted by technical buying and short-covering in wake of Wednesday's nearly one-month low.

* Weekly US ethanol production data was expected to be released by the US Energy Information Administration at 10 a.m. CST (1600 GMT).

* CBOT March corn last traded 1-1/4 cents higher at $3.75-3/4 per bushel.

SOYBEANS - Up 3 to 5 cents per bushel

* Soybeans were supported by short-covering and speculative buying that China would continue purchasing US soybeans as the two countries negotiated an end to their trade war.

* China opened the door to imports of rice from the United States for the first time ever in what analysts took to signal a warming of relations between the world's two biggest economies.

* Limited rainfall in parts of central and northern Brazil also underpinned soybean futures even as Brazil was set to harvest a massive soy crop.

* Monday is first notice day for deliveries against CBOT January soybean, soyoil and soymeal contracts.

* Malaysian palm oil futures climbed 0.8 percent.

* CBOT January soybeans last traded 4 cents higher at $8.73 a bushel.

Copyright Reuters, 2018