CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:05 a.m. CDT (1305 GMT) on Wednesday.
NOTE: Friday is first notice day for deliveries against CBOT May futures contracts.
WHEAT - Mixed, up 1 cent per bushel to down 1 cent
Nearby contracts steady to firm on a technical recovery one day after the spot contract dipped below psychological support at $4 a bushel. Ample global supplies limit rallies.
CBOT July soft red winter wheat last up 1 cent at $4.28 per bushel. K.C. July hard red winter wheat up 1-1/4 cents at $4.26 and MGEX July spring wheat up 1-3/4 cents at $5.46-1/4.
CORN - Steady to down 1 cent per bushel
Light technical setback after Tuesday's 1.7 percent climb in the CBOT July contract. Market underpinned by worries about US planting delays and a large net short position held by commodity funds.
CBOT July corn last down 1/2 cent at $3.71-1/4 a bushel.
SOYBEANS - Down 2 to 3 cents per bushel
Lower on technical selling and ideas that a slow start to corn planting could prompt some producers to switch some acres intended for corn over to soybeans. CBOT July soybean contract continues to test support at its 20-day moving average.
CBOT July soybeans last down 2-1/4 cents at $9.62-3/4 a bushel.
Comments
Comments are closed for this article.