CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Friday.
WHEAT - Down 1 to 2 cents per bushel Wheat and corn turned lower ahead of the break in trade, pressured by disappointing weekly export sales data for grains and especially soy.
Wheat prices underpinned by dry conditions in parts of the southern Plains and funds' large net short position, which leaves the market vulnerable to bouts of short-covering.
The US Department of Agriculture reported export sales of US wheat in the week to Dec. 29 at 183,600 tonnes, a marketing year low that fell below trade expectations for 200,000 to 500,000 tonnes.
Through its daily reporting system, the USDA said private exporters sold 100,000 tonnes of US hard red winter wheat to unknown destinations for 2016/17 delivery.
Analysts expect commodity index funds to add long CBOT and K.C. wheat positions next week as part of their annual rebalancing.
CBOT March soft red winter wheat last down 1-3/4 cents at $4.24-1/2 per bushel; K.C. March hard red winter wheat last traded unchanged at $4.34-1/2; MGEX March spring wheat last down 1/2 cent at $5.49-3/4.
CORN - Steady to down 1 cent per bushel
Turned lower ahead of the break in trade on disappointing weekly US export sales data.
Earlier, CBOT March corn fell just short of matching Thursday's three-week high of $3.62-3/4 a bushel.
The USDA reported export sales of US corn in the week to Dec. 29 at 429,300 tonnes, a marketing year low that fell below trade expectations for 650,000 to 950,000 tonnes.
Market underpinned by expectations that commodity index funds will buy corn next week as they rebalance their portfolios for 2017.
CBOT March corn last down 1/2 cent at $3.60-3/4.
SOYBEANS - Down 6 to 8 cents per bushel Lower on prospects for a large South American soy harvest, and big cancellations noted in weekly US export sales data.
The USDA reported net export sales of US soybeans in the week to Dec. 29 at 87,500 tonnes, a marketing year low.
The total included cancellations of 898,300 tonnes sold to unknown destinations. Trade expectations were for net sales of 800,000 to 1.2 million tonnes.
The USDA reported weekly soymeal export sales at 83,400 tonnes, a marketing year low that fell below trade expectations for 100,000 to 300,000 tonnes.
The USDA reported weekly soyoil export sales at 31,000 tonnes, above a range of trade expectations for 5,000 to 20,000 tonnes.
As Brazil's 2016/17 soybean harvest begins, analysts expect a record crop of 103.5 million tonnes thanks largely to good weather conditions, a Reuters poll showed.
The CME Group reported 444 CBOT January soybean deliveries, with the ADM house account stopping 308.
The exchange also reported 158 soymeal and 438 soyoil deliveries.
Malaysian palm oil futures fell for a third straight session.
CBOT March soybeans last down 7-1/2 cents at $10.05 per bushel.
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