CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Monday.
WHEAT - Down 7 to 10 cents per bushel
Rain in US Plains during weekend, good soil moisture in key growing areas of Black Sea region weigh on prices. Most-active CBOT soft red winter wheat contract hit lowest since Feb. 22 overnight.
The supplement to the US Commodity Futures Trading Commission's weekly commitments report showed large speculator widened their net short position in CBOT wheat by 4,755 contracts in the week to March 13, to 48,200 lots.
For K.C. hard red winter wheat, the CFTC's supplemental report showed large speculators expanded their net long by 4,182 contracts, to 25,376 lots, the biggest since August.
CBOT May soft red winter wheat last traded down 7-1/2 cents at $4.60-1/4 per bushel. K.C. May hard red winter wheat was last down 15-1/2 cents at $4.84 and MGEX May spring wheat was last down 2-3/4 cents at $6.09.
CORN - Down 4 to 6 cents per bushel
Weakness in soybeans and wheat weighs on corn, which hit lowest since Feb. 27 during overnight trading. CBOT May corn dropped through 200-day and 30-day moving averages during overnight trading session.
The supplement to the CFTC's weekly commitments report showed large speculators widened their net long position in CBOT corn by about 66,000 contracts in the week to March 13, to 266,728 lots, the biggest since June 2016.
CBOT May corn last traded down 4-1/4 cents at $3.78-1/2 a bushel.
SOYBEANS - Down 13 to 16 cents per bushel
Falling on long liquidation, expectations of big plantings in United States this spring. Showers in Argentina during the weekend contributed to bearish tone but rainfall totals were below expectations in parched growing areas.
Benchmark CBOT May soybean futures contract dropped below its 30-day moving average during overnight trading.
The CFTC's weekly commitments report showed large speculators trimmed their net long position in CBOT soybeans by about 1,900 contracts in the week to March 13, to 147,045 lots.
CBOT May soybeans last traded down 15-1/4 cents at $10.34-1/4 per bushel.
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