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 Friday.
WHEAT - Steady to down 1 cent per bushel
Flat to weaker as rangebound trade continues amid a lack of fresh news. Beneficial rains in the US Plains and Midwest winter wheat belts add to bearish sentiment. But technical strength in Minneapolis Grain Exchange spring wheat futures lends underlying support.
MGEX December spring wheat testing chart support at its 200-day moving average near $6.16 a bushel.
CBOT December soft red winter wheat last traded unchanged at $4.40-3/4 per bushel, K.C. December hard red winter wheat was last down 1/2 cent at $4.33-3/4 while MGEX December spring wheat was up 5-1/4 cents at $6.20-3/4.
CORN - Steady to up 1 cent per bushel
Sideways trade continues as traders wait for more yield reports from the US harvest and the USDA's Oct. 12 monthly supply/demand report. Rising private estimates of the US corn yield hang over the market. But rains this week have stalled fieldwork in some areas.
The USDA said private exporters sold 195,000 tonnes of US corn to unknown destinations for delivery in the 2017/18 marketing year that began Sept. 1.
CBOT December corn last traded up 1/4 cent at $3.49-3/4 per bushel.
SOYBEANS - Steady to down 1 cent per bushel
Flat in rangebound trade. Light underlying support from harvest delays stemming from rains in key production areas. Market awaits the USDA's monthly supply/demand reports next week.
Oilseed processor Saipol plans to cut its biodiesel production in France by around half next year, blaming renewed imports of Argentine biodiesel for exacerbating poor market conditions.
CME Group reported 88 soymeal deliveries and 254 soyoil deliveries against CBOT October futures.
CBOT November soybeans last traded down 1 cent at $9.67-1/4 a bushel.
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