CBOT Trends - Soy up 5-7 cents, wheat up 2-4 cents, corn steady-down 2 cents

• Wheat futures rising on hopes for increased demand for US exports.
• Russia's economy ministry said on Monday it supported an agriculture ministry proposal to limit grain exports to 7 million tonnes from April through June.
• Soybeans receiving support from rally in the palm oil market and concerns about supply disruptions due to coronavirus spread.

CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Up 2 cents to 4 cents per bushel

Wheat futures rising on hopes for increased demand for US exports.

Some technical buying also expected.

Russia's economy ministry said on Monday it supported an agriculture ministry proposal to limit grain exports to 7 million tonnes from April through June.

The benchmark CBOT May soft red winter wheat contract found support at its five-day moving average during the overnight trading session.

CBOT May soft red winter wheat last traded up 3-1/4 cents at $5.74-1/2 per bushel. K.C. May hard red winter wheat was 2-3/4 cents higher at $4.89-1/2 a bushel and MGEX May spring wheat was last up 1 cent at $5.38 a bushel.

CORN - Steady to down 2 cents per bushel

Concerns about ethanol sector pressure corn market as oil falls, cutting into demand for the corn-based fuel.

Benchmark CBOT May corn contract failed to hold support above its 10-day moving average overnight.

CBOT May corn last traded 1-1/2 cents lower at $3.44-1/2 per bushel.

SOYBEANS - Up 5 cents to 7 cents per bushel

Soybeans receiving support from rally in the palm oil market and concerns about supply disruptions due to coronavirus spread.

The Malaysian state of Sabah, the country's biggest palm oil producer, has extended a shutdown of palm oil plantations until April 14 and widened the order to six districts.

The benchmark CBOT May soybean futures contract rose above its 40-day moving average overnight. It briefly topped its 50-day moving average but failed to hold support above that key technical point.

CBOT May soybeans last traded up 6 cents at $8.87-1/2 per bushel.