CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Thursday.
NOTE: CBOT December futures contracts expire on Friday.
WHEAT - Up 3 to 5 cents per bushel
* Wheat higher on expectations of rising global prices and improving export demand. Strong weekly US export sales add support.
* The US Department of Agriculture reported export sales of US wheat in the week to Dec. 6 at 754,000 tonnes, near the high end of trade expectations for 500,000 to 800,000 tonnes.
* CBOT reported four deliveries against the expiring December soft red winter wheat futures contract and four K.C. hard red winter wheat deliveries. There were no deliveries against MGEX December spring wheat futures.
* CBOT March wheat last traded up 5-1/4 cents at $5.31-3/4 per bushel. K.C. March hard red winter wheat was up 6-1/4 cents at $5.17-1/2 a bushel and MGEX March spring wheat was up 2 cents at $5.85.
CORN - Steady to down 1 cent per bushel
* Corn flat to lower, consolidating a day after the CBOT March contract hit a five-week high. Lackluster export sales add to bearish sentiment.
* The USDA reported export sales of US corn in the week to Dec. 6 at 903,200 tonnes for the 2018/19 crop year, below a range of trade expectations for 1.0 million to 1.5 million tonnes. The USDA also reported sales for the 2019/20 crop year totaling 161,400 tonnes.
* CBOT reported 175 deliveries against the December corn contract, which expires on Friday.
* CBOT March corn last traded down 1/2 cent at $3.84-3/4 per bushel.
SOYBEANS - Down 1 to 2 cents per bushel
* Soybeans modestly lower ahead of the daily pause in trade as market awaited confirmation of Chinese purchases of at least 1.5 million tonnes of US soybeans. China on Wednesday made its first major purchases of US soybeans since President Donald Trump and his Chinese counterpart, Xi Jinping, agreed on a trade war truce earlier this month.
* Through its daily reporting system, the USDA said private exporters sold 1,130,000 tonnes of US soybeans to China for delivery in the 2018/19 marketing year that began Sept. 1.
* The USDA reported export sales of US soybeans in the week to Dec. 6 at 792,300 tonnes for the 2018/19 crop and 3,000 for the 2019/20 crop, in line with trade expectations.
* The CBOT reported zero December soymeal deliveries and 77 December soyoil deliveries.
* CBOT January soybeans last traded down 1-3/4 cents at $9.18-1/4 a bushel.
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