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. CDT (1330 GMT) on Wednesday.
WHEAT - Steady to down 2 cents per bushel
The benchmark CBOT soft red winter wheat contract eased to the lowest since June 30 overnight amid a stronger dollar and light demand for US supplies on the world market. Concerns about the dry US Plains continued to underpin MGEX spring wheat, which has risen for three days in a row.
CBOT September soft red winter wheat was down 1-1/2 cents at $5.02-1/4 per bushel; K.C. September hard red winter wheat was off 1-1/2 cents at $5.01-1/4; MGEX September spring wheat was up 3 cents at $7.83-1/2.
CORN - Up 3 to 5 cents per bushel
Corn was still seen as technically oversold after falling near a two-week low last week. Technical buyers stepped in to the market overnight when prices for the benchmark CBOT December contract dropped below its 200-day moving average. Traders closely watching the forecast for the US Midwest as the crop pollinates. The latest outlook lowered expectations for rain in key growing areas.
CBOT December corn was last up 4-3/4 cents at $3.95-1/2 per bushel.
SOYBEANS - Up 2 to 4 cents per bushel
Followed corn higher amid concerns about dryness and heat in US Midwest.
CBOT November soybeans was up 3-1/4 cents at $10.05 a bushel.
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