CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Thursday.
WHEAT - Down 4 to 6 cents per bushel Heading lower for a second session on profit-taking after this week's 2-1/2 month highs, with a firmer US dollar adding to bearish sentiment.
Consultancy Strategie Grains lowered its forecast for the 2017 European Union soft wheat harvest by 1.2 million tonnes to 143.8 million, citing expected damage to crops in the eastern EU due to severe cold this month.
Russia's agriculture safety watchdog said 18,000 tonnes of Russian wheat, seized by Egypt at an Alexandria port in November, could be released by local officials after fumigation.
The International Grains Council raised its outlook for 2016/17 world wheat production by 3 million tonnes to 752 million tonnes.
CBOT March soft red winter wheat last down 4-1/4 cents at $4.26-3/4 per bushel; K.C. March hard red winter wheat down 4-3/4 cents at $4.47-1/2 a bushel; MGEX March spring wheat up 1/2 cent at $5.74. CORN - Steady to down 1 cent per bushel Steady to lower as market pauses one day after the March contract reached a near three-month high at $3.67-3/4 a bushel. US farmer selling this week adds pressure, along with a stronger dollar.
The US Department of Agriculture said private exporters sold 110,400 tonnes of US corn to unknown destinations for delivery during the 2016/17 marketing year.
The International Grains Council raised its forecast for the 2016/17 world corn crop by 3 million tonnes, to a record 1.045 billion tonnes, mainly reflecting an improved outlook for China.
The Philippines said a rare surplus in domestic supply this year meant it could be technically able to export corn for the first time ever, touting Malaysia, Taiwan and South Korea as possible buyers.
CBOT March corn last down 3/4 cent at $3.64-1/4 a bushel.
SOYBEANS - Down 5 to 7 cents per bushel Lower on consolidation, profit-taking and farmer selling after a four-session rally that lifted the March contract on Wednesday to a six-month high of $10.80 a bushel.
Uncertainty about Argentine crop weather and production prospects underpins values, with hot and dry conditions expected this week following weekend floods.
Malaysian March palm oil futures fell 0.5 percent, hit by weaker US soyoil and a failure to break the previous session's intraday high. CBOT March soybeans last down 6-3/4 cents at $10.68-1/4 per bushel.
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