CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Friday.
NOTE: Friday is the last trading day for CBOT February options.
WHEAT - Up 1 to 3 cents per bushel
Heading higher for a third straight session on technical buying and short-covering, with a weaker US dollar lending support.
The US Department of Agriculture (USDA) reported export sales of US wheat in the latest week at 453,700 tonnes (old and new crop years combined), in line with a range of trade expectations for 200,000 to 500,000 tonnes.
Additional support from unfavorably dry conditions in the southern US Plains winter wheat belt.
CBOT March soft red winter wheat last traded up 2-1/4 cents at $4.36-3/4 per bushel. K.C. March hard red winter wheat was up 3 cents at $4.38, and MGEX March spring wheat was up 2 cents at $6.12-1/4.
CORN - Steady to up 1 cent per bushel
Flat to firm as market pauses a day after the CBOT March contract reached a 7-1/2 week high at $3.58 on short-covering. Larger-than-expected weekly export sales data lends support. Chart resistance noted at the 100-day moving average near $3.58.
Rallies capped by moderate farmer corn sales this week, traders said.
The USDA reported export sales of US corn in the latest week at 1.531 million tonnes (old and new crop years combined), above a range of trade expectations for 850,000 to 1,250,000 tonnes.
Through its daily reporting system, the USDA also said private exporters sold 125,000 tonnes of US corn to unknown destinations for 2017/18 delivery.
CBOT March corn last traded up 1/2 cent at $3.55-3/4 per bushel.
SOYBEANS - Down 2 to 3 cents per bushel
Lower on technical selling and profit-taking a day after the CBOT March soybean contract topped $10 a bushel for the first time since mid-December. Disappointing weekly export sales data adds pressure.
The USDA reported export sales of US soybeans in the latest week at 759,300 tonnes (old and new crop years combined), below a range of trade expectations for 850,000 to 1.4 million tonnes.
The USDA reported weekly soymeal export sales of 224,100 tonnes and soyoil sales at 11,800 tonnes, both in line with trade expectations.
Argentina trimmed its soy and corn-planting estimates on Thursday as key parts of the country's Pampas grains belt contend with excessively hot, dry conditions.
Malaysian April palm oil futures fell 0.36 percent.
CBOT March soybeans last traded down 2-3/4 cents at $9.89-1/2 per bushel.
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