CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:08 a.m. CDT (1308 GMT) on Monday.
WHEAT - Up 1 to 4 cents per bushel
Rebounding from contract lows hit on Friday on weakness in US dollar. The greenback makes US commodities attractive to investors seeking a hedge against inflation. Dollar-denominated wheat most sensitive to currency swings.
CBOT July soft red winter wheat last up 3 cents at $4.24 per bushel. K.C. July hard red winter wheat added 2-3/4 cents at $4.20 and MGEX July spring wheat gained 2 cents at $5.37-1/2.
CORN - Up 1 to 3 cents per bushel
Technical buying expected after corn futures bounced from 3-1/2-month low during Friday's session. Trade waited for US Agriculture Department's weekly crop progress report that will be released on Monday afternoon. US corn seeding has started slowly due to wet conditions in fields.
CBOT July corn last up 2 cents at $3.65-3/4 a bushel.
SOYBEANS - Up 6 to 8 cents per bushel
Short-covering expected following release of Commodity Futures Trading Commission data on Friday that showed speculators had biggest bearish bet in soybeans since March 2016. Support for most-active July soybean futures contract noted at 20-day moving average during overnight trading session.
CBOT July soybeans last up 7 cents at $9.67-3/4 a bushel.
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