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. CDT (1330 GMT) on Wednesday.
WHEAT - Up 2 to 4 cents per bushel
* K.C. hard red winter wheat contracts leading wheat higher amid concerns about flooding in the US Plains damaging crop there. But poor export demand for US supplies keeping gains in check.
* Benchmark CBOT May soft red winter wheat futures contract struggled to hold support above 20-day moving average.
* MGEX spring wheat, which has risen for four days in a row, hit three-week high overnight.
* CBOT May wheat last traded 1-3/4 cents higher at $4.58-1/4 per bushel. K.C. May hard red winter wheat was up 5 cents at $4.40-3/4 a bushel, and MGEX May spring wheat was up 1/2 cent at $5.65-3/4 a bushel.
CORN - Steady to up 2 cents per bushel
* Corn market stuck in narrow trading range. Concerns about spring planting delays in US Midwest lend support but plentiful supplies keep strength in check.
* CBOT May corn futures faced technical resistance at 20-day moving average during overnight trading. Contract has failed to hold support above that level during the past three days.
* CBOT May corn last traded up 1 cent at $3.72-1/4 per bushel.
SOYBEANS - Steady to down 2 cents per bushel
* Soybean prices easing amid uncertainty about potential trade deal with China and ongoing harvest of South American crop.
* CBOT May soybean futures found support at 10-day moving average overnight. Support also noted at Tuesday's low.
* CBOT May soybeans last traded down 1 cent at $9.03 a bushel.
Comments
Comments are closed for this article.