Corn, soybeans up 2-3 cents; wheat up 1-3 cents

CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Friday.

WHEAT - Up 1 cent to 3 cents per bushel

Technical buying, end-of-week short-covering expected in wheat market.

CBOT September soft red winter wheat futures contract found support at its five-day moving average before rising above its 200-day moving average during the overnight trading session.

CBOT September soft red winter wheat last traded up 1-1/4 cents at $5.36-1/2 a bushel. K.C. September hard red winter wheat last traded up 3-1/4 cents at $4.52 a bushel and MGEX September spring wheat was last 1-1/4 cents higher at $5.16-1/2 per bushel.

CORN - Up 2 cents to 3 cents per bushel

Traders expecting some position-squaring and short-covering ahead of the weekend, with forecasts for some hot and dry weather in key corn growing areas of the US Midwest sparking the unwinding of some bearish investments.

Recent Chinese purchases of US corn also supportive.

Resistance for benchmark CBOT December corn futures noted at their 40-day moving average overnight.

CBOT December corn last traded up 2-1/2 cents at $3.40 per bushel.

SOYBEANS - Up 2 cents to 3 cents per bushel

Signs of rising Chinese demand for US soybeans prices.

Soybean futures have risen for three days in a row, with the US Agriculture Department announcing fresh deals with China on each of those days.

Private exporters reported the sale of 126,000 tonnes of soybeans for delivery to unknown destinations during the 2020/2021 marketing year, the USDA said on Friday morning.

Benchmark CBOT November soybeans rose above their 10-day moving average overnight.

CBOT November soybeans last traded up 3 cents at $8.94 per bushel.