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 Tuesday.
WHEAT - Up 1 to 3 cents per bushel
Wheat futures inched higher overnight as traders positioned ahead of the US Agriculture Department's monthly supply and demand report, due out Aug. 12.
US spring wheat was rated 11% good-to-excellent for the week ended Aug. 8, the USDA said on Monday afternoon, up 1 point from the previous week.
CBOT September soft red winter wheat was last 4-3/4 cents stronger at $7.16 per bushel; K.C. September hard red winter wheat gained 4-3/4 cents to $7.06-1/4 per bushel, and MGEX September spring wheat was down 1/4 cent at 9.08-1/2 per bushel.
CORN - down 3 to 4 cents per bushel
Corn slipped overnight on better-than expected crop conditions ratings from the USDA and rainfall across parts of the upper US Midwest.
Exporters sold 182,880 tonnes of corn to Mexico, the USDA said, 152,400 tonnes for delivery during the 2021/2022 marketing year and 30,480 tonnes for the 2022/2023 marketing year, marking the first daily corn sale since June 16.
The US corn crop was rated 64% good-to-excellent Monday afternoon, up two points from the week prior, the USDA said, beating analyst expectations. Brazil's total corn crop for 2020/2021 was pegged at 86.650 million tonnes, by consultancy Conab, down from 93.385 million tonnes forecast in July and 102.586 million tonnes in its 2019/2020 estimate. CBOT December corn last traded down 3-1/4 cents at $5.50-1/2 per bushel.
SOYBEANS - Up 5 to 20 cents per bushel Soyabeans firmed overnight, supported by continued export demand optimism. Exporters sold 132,000 tonnes of soybeans to China during the 2021/2022 marketing year, as well as 130,000 tonnes to unknown destinations, the USDA said.
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