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 Thursday.
NOTE: The US Department of Agriculture (USDA) is scheduled to release its US acreage and quarterly stocks reports on Friday at 11 a.m. CDT (1600 GMT).
Friday is also first notice day for deliveries against CBOT July futures contracts.
WHEAT - Up 6 to 8 cents per bushel
Wheat higher, with CBOT September posting a multi-month top in early moves, on hot weather in Europe, smaller-than-expected Canadian acreage and firm US cash values for soft red winter wheat ahead of first notice day for July deliveries, traders said.
Robust weekly US export sales lend support. The USDA reported export sales of US wheat in the week to June 20 at 612,000 tonnes, topping a range of trade expectations.
Saudi Arabia's main state wheat buying agency issued an international tender to purchase 715,000 tonnes of wheat.
The International Grains Council raised its forecast for 2019/20 world wheat production by 3 million tonnes in a monthly report, to 769 million tonnes.
CBOT September soft red winter wheat last traded up 7 cents at $5.53-1/2 a bushel. K.C. September hard red winter wheat was last up 6-3/4 cents at $4.88-3/4 and MGEX September spring wheat was up 5-1/2 cents at $5.65.
CORN - Steady to up 1/2 cent per bushel
Corn nearly steady and rangebound as traders square positions ahead of the USDA's acreage and quarterly stocks reports on Friday.
The USDA reported export sales of US corn in the week to June 20 at 405,000 tonnes (old and new crop years combined), in line with trade expectations.
The International Grains Council cut its global corn crop forecast by 23 million tonnes in a monthly report, to 1.095 billion tonnes, with a diminished outlook for US production.
CBOT September corn last traded up 1/4 cent at $4.49-3/4 a bushel.
SOYBEANS - Up 2 to 3 cents per bushel
Soybeans firm in a technical rebound after a two-session slide, with the July contract bouncing off support at its 100-day moving average.
Position-squaring noted ahead of the USDA's acreage and quarterly stocks reports on Friday.
The USDA reported export sales of US soybeans in the week to June 20 at 487,800 tonnes (old and new crop years combined), in line with trade expectations.
CBOT July soybeans last traded up 2-1/4 cents at $8.96-1/2 per bushel.
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