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 Thursday.
WHEAT - Down 9 to 11 cents per bushel
Wheat lower on a mix of technical selling and fundamental pressure from plentiful world supplies, coupled with models showing increased chances of rain late next week in the drought-hit southern Plains winter wheat belt. Disappointing weekly US export sales data adds to bearish sentiment.
MGEX spring wheat futures underpinned by fears of wintry weather delaying planting in the northern Plains.
The USDA reported export sales of US wheat in the week to April 5 at 188,700 tonnes (old and new crop years combined), below trade expectations.
CBOT May soft red winter wheat last traded down 10-1/2 cents at $4.76-3/4 per bushel. K.C. May hard red winter wheat was last down 13-3/4 cents at $5.03 and MGEX May spring wheat was last down 1-1/2 cents at $6.27-1/2.
CORN - Down 1 to 2 cents per bushel
Corn futures headed lower for a third straight session on ample supplies and spillover weakness from wheat. Market underpinned by fears of a slow start to planting in the US Midwest.
The USDA reported export sales of US corn in the week to April 5 at 896,000 tonnes (old and new crop years combined), below a range of trade expectations.
A USDA attache report released Wednesday estimated Brazil's 2017/18 all-corn crop at 89 million tonnes, below the USDA's latest official figure of 92 million.
CBOT May corn last traded down 1-1/4 cents at $3.85-3/4 a bushel.
SOYBEANS - Up 1 to 2 cents per bushel
Soybeans heading higher on increased export demand for US supplies and declining Argentine production estimates. The Rosario grains exchange on Wednesday cut its estimate of the country's soy crop to 37 million tonnes, from 40 million previously.
The USDA reported export sales of US soybeans in the week to April 5 at 2,464,500 tonnes (old and new crop years combined), topping a range of trade expectations.
The USDA reported weekly US soymeal export sales at 317,400 tonnes, in line with expectations, and soyoil sales at 22,000 tonnes, at the low end of expectations.
Brazil's soybean sales slowed this week as premiums at local ports retreated after reaching record levels amid the escalation of a trade conflict between China and the United States, analysts said.
CBOT May soybeans last traded up 2-1/4 cents at $10.50 per bushel.
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