CHICAGO: Following are US trade expectations for the opening of grain and soya complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.
Wheat up 1 to 3 cents per bushel. Wheat strengthens as US winter wheat crop continues to suffer from dry weather across the US Southern Plains.
Strong export demand is underpinning the market, as South Korea, Taiwan, Thailand and Jordan all recently purchased wheat from various sources.
The most-active wheat contract on the Chicago Board Of Trade reached $6.22-3/4 per bushel overnight, its highest since Nov. 5.
CBOT December soft red winter wheat last traded 1 cent higher at $6.12-1/4 per bushel. K.C. December hard red winter wheat was flat at $5.61. MGEX December spring wheat was last up 4-1/2 cents at $5.55-1/4.
Corn down 0 to 2 cents per bushel. Corn continues to trade in a range ahead of Thursday’s US Thanksgiving holiday. The South American corn crop could receive some much-needed precipitation in the next 10 days, in the northern region of Argentina and parts of Brazil.
CBOT December corn was last 3/4 cent lower at $4.25 per bushel.
Soyabeans up 3 to 4 cents per bushel. Soyabeans inching higher, hovering near recent highs.
CBOT Soyabean contracts for January through August 2021 reached new life-of-contract highs overnight.
Fears that strong export sales could be undermined by cancellations weigh on soyabean futures prices, as Chinese buyers and processors look to turn back US cargoes for December and January shipment, citing the collapse of crush margins following the recent rally.
CBOT January soyabeans last traded up 3 cents at $11.94-1/4 per bushel.
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