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.
NOTE: Trade awaits the US Department of Agriculture's monthly supply/demand reports due on Thursday.
WHEAT - Up 2 to 3 cents per bushel
Higher in light consolidation ahead of the USDA's monthly supply/demand reports.
Analysts expect the USDA on Thursday to lower its estimate of US wheat production, especially spring wheat.
CBOT September soft red winter wheat last traded up 2 cents at $4.59 per bushel; K.C. September hard red winter wheat was up 1-3/4 cents at $4.62-1/4 and MGEX September spring wheat was up 2-1/2 cents at $7.33-3/4.
CORN - Mixed, up 1 cent per bushel to down 1 cent
Choppy rangebound trade ahead of the USDA's supply/demand reports on Thursday. Worries about dry conditions in portions of the US Midwest add support. Benchmark December corn stayed inside of Tuesday's trading range overnight.
Analysts surveyed by Reuters expect the USDA in its supply/demand reports on Thursday to lower its forecast of US 2017 corn production and yield.
CBOT December corn last traded up 1/2 cent at $3.84-1/4 per bushel.
SOYBEANS - Up 1 to 2 cents per bushel
Firm but rangebound as traders square positions ahead of the USDA's August supply/demand reports on Thursday. Market underpinned by stressful dry conditions in portions of the US Midwest, and fears that cool temperatures this month may slow the growing season, leaving crops vulnerable to an early frost.
The USDA said private exporters canceled sales of 130,000 tonnes of US soybeans to unknown destinations for delivery in the 2016/17 marketing year that began Sept. 1, 2016.
Analysts surveyed by Reuters expect the USDA in its supply/demand reports on Thursday to trim its forecast of US 2017 soybean production and yield.
The CBOT reported 114 soybean deliveries and 114 soyoil deliveries against August futures. There were 120 August soymeal deliveries, with the Term house account stopping 89.
CBOT November soybeans last traded up 1-3/4 cents at $9.75 a bushel.
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