Wheat down 2-4 cents, corn up 1-3 cents, soy up 6-8 cents

• On a continuous basis, the most-active soft red winter wheat contract hit a two-month low during the overnight trading session.
• Corn futures rising on short-covering and signs of rising demand from China.
• Gains in crude oil and hopes for stepped-up Chinese purchases support soybean futures.

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 - Down 2 cents to 4 cents per bushel

Concerns about poor demand and ample supply base weigh on the wheat market.

On a continuous basis, the most-active soft red winter wheat contract hit a two-month low during the overnight trading session.

CBOT July soft red winter wheat last traded down 3 cents at $4.97-1/4 per bushel. K.C. July hard red winter wheat was last down 2-3/4 cents at $4.49-1/2 and MGEX July spring wheat was last up 3/4 cent at $5.07.

CORN - Up 1 cent to 3 cents per bushel

Corn futures rising on short-covering and signs of rising demand from China.

China has asked trading firms and food processors to boost inventories of grains and oilseeds as a possible second wave of coronavirus cases and worsening infection rates elsewhere raise concerns about global supply lines.

Trades watching to see if benchmark CBOT July corn futures contract can rise above its 30-day moving average after threatening that key technical point overnight. Contract has not risen above that level since Jan. 24.

CBOT July corn last traded up 1-3/4 cents at $3.21 per bushel.

SOYBEANS - Up 6 cents to 8 cents bushel

Gains in crude oil and hopes for stepped-up Chinese purchases support soybean futures.

CBOT July soybean futures rose above its 10-day and 20-day moving averages overnight. It also topped its 30-day moving average but struggled to hold support above that key technical point.

CBOT July soybeans last traded up 6-1/4 cents at $8.44-3/4 per bushel.