CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Tuesday.
WHEAT - Up 2 to 3 cents per bushel Higher on bargain-buying after a four-session slide that pushed the CBOT December contract to a near six-week low on Monday. Plentiful global wheat supplies and a strong US dollar hang over the market, capping rallies.
The US Department of Agriculture late Monday rated 59 percent of the US winter wheat crop as good to excellent, up from 58 percent a week earlier. The USDA said the crop was 94 percent planted, near the five-year average of 95 percent.
CBOT December soft red winter wheat last up 2-3/4 cents at $3.96-3/4 per bushel; K.C. December hard red winter wheat up 2-3/4 cents at $4.05-1/2; MGEX December spring wheat up 2-3/4 cents at $5.14-3/4.
CORN - Up 1 to 2 cents per bushel Firming in a technical bounce one day after the December contract hit a six-week low at $3.35-1/2 a bushel. Rallies limited by pressure from the harvest of a record-large crop and a resurgent dollar, which makes US goods less attractive on the world market.
The USDA said the US corn harvest was 93 percent complete as of Sunday, ahead of the five-year average of 92 percent.
CBOT December corn last up 1-1/2 cents at $3.38-3/4 per bushel.
SOYBEANS - Steady to down 1 cent per bushel Market consolidating a day after the January soybean contract fell to a one-month low, pressed by a stronger dollar and declines in Chinese commodity markets. Export demand for US soybeans underpins values.
Chinese commodities from coal to soybeans slumped as speculators cashed out of futures markets because of concerns that regulators may tighten curbs to tame price swings.
The USDA said private exporters sold 121,500 tonnes of US soybeans to China and another 126,000 tonnes to unknown destinations, all for delivery in the 2016/17 marketing year.
Ahead of the National Oilseed Processors Association's monthly crush report later on Tuesday, analysts surveyed by Reuters expected the organization to report that its members crushed 160.478 million bushels of soybeans in October, a record for the month, if realized.
The USDA said the US soybean harvest was 97 percent complete as of Sunday, ahead of the five-year average of 95 percent.
Germany's winter rapeseed sown area for the 2017 harvest has been expanded by 1.5 percent on the year to around 1,350,000 hectares, German oilseeds industry association UFOP said.
Malaysian palm oil futures declined for a second straight session on weak export data from a cargo surveyor.
CBOT January soybeans last traded unchanged at $9.84-1/4 per bushel.
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