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 Tuesday.
NOTE: CBOT March contracts expire at 12:01 p.m. CDT (1701 GMT).
WHEAT - Down 1 to 2 cents per bushel
Heading lower for a sixth straight session on technical selling, plentiful old-crop supplies and some outlooks for better moisture in the US Plains wheat belt later this month. Firmer dollar adds pressure.
China's National Grain Trade Center reported sales of 424,193 tonnes of wheat at auction of state reserves, representing about 16 percent of 2.64 million tonnes of wheat available.
The CBOT reported 37 deliveries against the CBOT March wheat contract. There were no deliveries against K.C. hard red winter wheat, and the MGEX reported no March spring wheat deliveries.
CBOT May soft red winter wheat last down 1-1/2 cents at $4.29 per bushel; K.C. May hard red winter wheat down 1-1/2 cents at $4.41-1/4; MGEX May spring wheat down 1/2 cent at $5.30-3/4.
CORN - Steady to down 1 cent per bushel
Steady to lower on technical selling and spillover weakness from soybeans and wheat. Prospects for a large South American harvest add pressure. CBOT May corn fell to $3.60, its lowest since Jan. 12. The contract has closed lower in each of the previous six trading sessions.
The US Department of Agriculture said private exporters sold 120,000 tonnes of US corn to Mexico for 2017/18 delivery.
The CBOT reported 49 deliveries against March corn futures.
CBOT May corn last down 1/2 cent at $3.60-1/2 a bushel.
SOYBEANS - Down 6 to 7 cents per bushel
Lower on technical selling, with the May contract dropping below psychological support at $10 a bushel. Additional pressure from expectations for bumper South American soy harvest and an expansion in US soybean plantings for 2017. CBOT May soybeans fell to $9.98-3/4, its lowest since Nov. 17.
The CBOT reported 114 soybean deliveries against the March futures contract. There were also 48 soymeal deliveries and 82 soyoil deliveries.
Malaysian palm oil futures closed higher, supported by expectations of stronger demand ahead of a cargo surveyor data release.
CBOT May soybeans last down 6-3/4 cents at $9.99-1/4 a bushel.
Comments
Comments are closed for this article.