CBOT Trends Wheat up 4-8 cents, corn up 1-2, soy up 2-3

• Corn futures head higher, following strength in wheat. Favorable crop weather in South America caps rallies.
• Soybean futures seen firm following wheat and corn, with the March soybean contract rallying on bargain-buying after falling to $9.14-1/2.
• Wheat heads higher on rising global cash prices and technical momentum, with the CBOT March contract hitting its highest since October 2018.

CHICAGO: Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.

WHEAT - Up 4 to 8 cents per bushel

Wheat heads higher on rising global cash prices and technical momentum, with the CBOT March contract hitting its highest since October 2018, in early moves.

Algeria's state grains agency OAIC bought around 400,000 tonnes of optional-origin milling wheat in an international tender that closed on Tuesday, European traders said.

Some traders put the price range between $244 and $246 a tonne c&f, up from prices paid at Algeria's previous tender on Dec. 5 of about $227 to $228 a tonne c&f.

CBOT March soft red winter wheat last traded up 8-1/4 cents at $5.89-3/4 per bushel.

K.C. March hard red winter wheat  was last up 1 cent at $5.01 a bushel, and MGEX March spring wheat was last up 2 cents at $5.64-1/4 a bushel.

CORN - Up 1 to 2 cents per bushel

Corn futures head higher, following strength in wheat. Favorable crop weather in South America caps rallies.

Traders await evidence of fresh export demand for U.S. supplies.

CBOT March corn last traded up 2-1/4 cents at $3.89-3/4 per bushel.

SOYBEANS - Up 2 to 3 cents per bushel

Soybean futures seen firm following wheat and corn, with the March soybean contract rallying on bargain-buying after falling to $9.14-1/2, its lowest since Dec. 12, in early moves.

Generally favorable South American crop weather hangs over the market, bolstering expectations for large crops in Brazil and Argentina.

CBOT March soybeans last traded up 3-1/4 cents at $9.19-1/4 per bushel.