CHICAGO: Following are U.S. 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 Monday.
WHEAT
Up 10 to 12 cents per bushel Technical buying underpinning wheat market after benchmark CBOT December soft red winter wheat contract held support above Friday’s low of $7.23-1/2 a bushel. Weakness in U.S dollar also supportive, traders said.
CBOT December soft red winter wheat rose above its 20-day Bollinger range during the overnight trading session.
CBOT December soft red winter wheat last traded up 11-3/4 cents at $7.40 per bushel. K.C. December hard red winter wheat was last 10 cents higher at $7.25-3/4 per bushel, while MGEX December spring wheat was last up 6-1/2 cents at $9.08-3/4.
CORN
Up 2 to 5 cents per bushel Market stabilizing after falling to its lowest since July 26 on Friday after advisory service Pro Farmer projected U.S. corn production would top the government’s latest forecast.
Private exporters reported the sale of 458,600 tonnes of corn to Mexico for delivery in the 2021/22 marketing year, the U.S. Agriculture Department said.
CBOT December corn rose above the low end of its 20-day Bollinger range overnight. CBOT December corn last traded up 1-3/4 cents at $5.38-3/4 per bushel.
SOYBEANS
Up 13 to 15 cents per bushel Bargain buying in soy market expected after four straight days of losses pushed the most active soybean futures contract to its lowest since June 28 on Friday. Strength in crude oil adds support.
CBOT November soybeans rose above the low end of their 20-day Bollinger range overnight. November soybeans were last 13 cents higher at $13.03-3/4 per bushel.
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