CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Tuesday.
Wheat - Down 8 to 9 cents per bushel
CBOT wheat futures fell for a third straight session on Tuesday, as the risk of crop-damaging weather ahead of the northern hemisphere harvest receded, reinforcing expectations of a well-supplied market.
Recent days have seen rain in dry parts of northern Europe, rainfall forecasts in drought-hit cropping regions in China, an upward revision to a wheat yield forecast in the European Union and an upgraded production estimate for Russia.
Traders were awaiting the U.S. Department of Agriculture’s weekly crop report later on Tuesday to see if U.S. winter wheat conditions continued to improve last week.
Export demand for wheat remains tepid and export prices in top shipper Russia dipped last week.
CBOT July soft red winter wheat was last down 9-1/2 cents to $5.33 per bushel. K.C. July hard red winter wheat was last down 11-1/4 cents to $5.27-1/2 a bushel. Minneapolis July spring wheat was last down 6 cents to $6.00-1/2 a bushel.
Paris wheat pushed down by export-punishing euro strength
Corn - Down 1 to 2 cents per bushel
Corn futures lowered, curbed by a bounce in the dollar.
The U.S. Department of Agriculture in its weekly crop report Tuesday afternoon will release corn condition ratings and planting progress.
A lack of weather risks to the U.S. corn crop have weighed on prices.
CBOT July corn was last down 3/4 cent to $4.58-3/4 per bushel.
Soybeans - Up 5 to 6 cents per bushel
Soybeans rose under support from soyoil futures, which have rallied on hopes that the U.S. Environmental Protection Agency will release new biofuel blending mandates.
CBOT July soybeans were last up 6-1/4 cents to $10.66-1/2 per bushel.
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