CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.
NOTE: Economists expect the US Federal Reserve to raise interest rates for the first time in a year, with a statement scheduled at 1 p.m. CST (1900 GMT) and a press conference by Fed Chair Janet Yellen to follow.
CBOT December contracts expire at 12:01 p.m. CST (17801 GMT).
WHEAT - Down 2 to 3 cents per bushel Lower on profit-taking after a four-session climb in the CBOT March contract. Plentiful global wheat supplies continue to hang over the market. But commodity funds hold a large net short position, leaving the market vulnerable to bouts of short-covering.
Indian importers in the last week purchased around 200,000 tonnes of wheat from the Black Sea region after India ended wheat import duties, European traders said.
The CBOT reported no deliveries of CBOT December wheat and 35 deliveries of K.C. December hard red winter wheat.
The MGEX reported no December spring wheat deliveries.
CBOT March soft red winter wheat last down 3 cents at $4.14-1/2 per bushel; K.C. March hard red winter wheat down 2-1/4 cents at $4.13; MGEX March spring wheat down 1-1/2 cents at $5.36-1/4.
CORN - Down 1 to 2 cents per bushel Lower in rangebound technical trade. Market underpinned by firm cash values as ethanol margins improve while farmer selling remains sluggish.
Traders continue to monitor forecasts for beneficial rains in crop areas of Argentina.
China's northeast Jilin province, the nation's second-largest corn producer, will relax new nationwide restrictions on trucking grains to ease logjams and high costs as the new crop hits the market, the regional government said.
The CBOT reported no deliveries against December corn futures.
CBOT March corn last down 1-1/4 cents at $3.59-3/4 per bushel.
SOYBEANS - Down 5 to 6 cents per bushel Lower on expectations of beneficial rains in crop areas of Argentina this weekend and next week. Declines in Dalian soymeal futures overnight add pressure.
The CBOT January soybean contract dipped to $10.20-3/4, a three-week low.
The CBOT reported 40 deliveries against December soymeal futures and 170 soyoil deliveries.
Malaysian palm oil futures rose after output and export data supported bullish sentiment.
CBOT January soybeans last down 5-1/2 cents at $10.22-1/2 per bushel.
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