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.
NOTE: CBOT October soymeal and soyoil contracts expire at 12:01 p.m. CDT (1701 GMT).
WHEAT - Up 1 to 2 cents per bushel
Modestly higher on technical buying and short-covering after a four-session slide in the CBOT December wheat contract. Rallies capped by a smaller-than-expected weekly US export sales tally, and Thursday's larger-than-expected USDA forecasts of US and global 2017/18 wheat ending stocks.
The US Department of Agriculture reported export sales of US wheat in the latest week at 175,000 tonnes, below a range of trade estimates for 300,000 to 500,000 tonnes.
CBOT December soft red winter wheat last traded up 1-1/4 cents at $4.31-3/4 per bushel, K.C. December hard red winter wheat was last up 1-1/4 cents at $4.27-1/2 while MGEX December spring wheat was up 2-1/2 cents at $6.13-3/4.
CORN - Up 1 to 2 cents per bushel
Higher on technical buying including short-covering and better-than-expected weekly export sales. Rallies capped by the USDA on Thursday raising its estimate of the US corn yield to 171.8 bushels per acre, topping a range of trade expectations.
The USDA on Friday reported export sales of US corn in the latest week at 1,593,100 tonnes, well above a range of trade estimates for 800,000 to 1,100,000 tonnes.
CBOT December corn last traded up 1-1/2 cents at $3.50-1/2 per bushel.
SOYBEANS - Up 3 to 4 cents per bushel
Higher on follow-through buying a day after the USDA lowered its estimate of the US 2017 soybean yield. Better-than-expected weekly export sales lend support.
The USDA reported export sales of US soybeans in the latest week at 1,747,300 tonnes, above a range of trade estimates for 900,000 to 1,200,000 tonnes.
China, the world's top soybean buyer, imported 8.1 million tonnes of the oilseed in September, up 12.7 percent on a year ago, after crushers saw margins improve over the summer and anticipated healthy demand for soymeal from hog farms.
Rains expected in the US Midwest this weekend should slow the harvest but forecasts called for mostly dry weather next week.
CBOT November soybeans last traded up 3-3/4 cents at $9.95-3/4 a bushel.
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