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: The US Federal Reserve concludes a two-day meeting, with a statement and news conference expected at 1 p.m. CDT (1800 GMT).
WHEAT - Up 1 to 2 cents per bushel
Modestly higher in rangebound trade as the market awaits fresh direction. Plentiful global supplies and a large Russian harvest offset worries about dry conditions in Australia and excessive rain in Argentina.
Rains expected next week should help recharge soil moisture in the southern US Plains winter wheat belt, where planting is under way.
CBOT December soft red winter wheat last traded up 1-1/2 cents at $4.44-1/2 per bushel, K.C. December hard red winter wheat was up 1-3/4 cents at $4.43-3/4 and MGEX December spring wheat was up 1-3/4 cents at $6.19.
CORN - Steady to up 1 cent per bushel
Flat to firm, with front-month December corn rebounding from Tuesday's one-week low. Traders eyeing December's contract low of $3.44-1/4, set on Aug. 31, and also awaiting yield reports from the Midwest harvest.
Ukraine's maize harvest is expected to reach 27 million tonnes this year compared with 28 million tonnes in 2016, the country's first deputy agriculture minister said.
CBOT December corn last traded up 3/4 cent at $3.49 per bushel.
SOYBEANS - Up 3 to 4 cents per bushel
Slightly higher as traders await direction from yield reports as the Midwest soy harvest expands, and monitor planting conditions in Brazil. Fresh export sales of more than 1 million tonnes of US soybeans may lend support.
The USDA said private exporters sold 132,000 tonnes of US soybeans to China and another 960,000 tonnes to unknown destinations, all for 2017/18 delivery, along with 120,000 tonnes to unknown destinations for 2018/19 delivery.
CBOT November soybeans last traded up 3-1/2 cents at $9.69 a bushel.
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