CHICAGO: Following are US trade 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 Monday.
WHEAT - Steady to up 1 cent per bushel
* Wheat flat to firmer on spillover strength from corn, and short-covering after the CBOT December contract on Friday fell to a one-week low.
* Rallies capped by USDA reports released Friday showing larger-than-expected US Sept. 1 wheat stocks.
* The supplement to the US Commodity Futures Trading Commission's weekly commitments report showed large speculators slightly widened their net short position in CBOT wheat by about 500 contracts in the week to Sept. 25, to 37,993 lots.
* For K.C. hard red winter wheat, the CFTC's supplemental report showed large speculators pared their net long by almost 2,000 contracts, to 21,092 lots.
* CBOT December wheat last traded unchanged at $5.09 per bushel. K.C. December hard red winter wheat was steady at $5.11-1/4 and MGEX December spring wheat was up 2 cents at $5.74-1/2.
CORN - Up 2 to 3 cents per bushel
* Corn higher on export optimism after the United States and Canada forged a last-gasp deal on Sunday to salvage NAFTA as a trilateral pact with Mexico. Additional support stems from worries about rains slowing harvest progress in the US Midwest this week.
* The supplement to the CFTC's weekly commitments report showed large speculators cut their net short position in CBOT corn by almost 30,000 contracts in the week to Sept. 25, to 146,501 lots.
* CBOT December corn last traded up 2-1/2 cents at $3.58-3/4 per bushel.
SOYBEANS - Steady to up 1 cent per bushel
* Soybeans steady to firm, following corn. Worries about US Midwest harvest delays this week add support. Rallies capped by rising forecasts for US 2018/19 soybean ending stocks following Friday's USDA data showing larger-than-expected Sept. 1 inventories. The USDA also raised its estimate of the 2017 soybean harvest.
* The CFTC's weekly commitments report showed large speculators reduced their net short position in CBOT soybeans by about 13,400 contracts in the week to Sept. 25, to 114,496 lots.
* CBOT November soybeans last traded up 3/4 cent at $8.46-1/4 a bushel.
Comments
Comments are closed for this article.