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. CDT (1330 GMT) on Tuesday.
WHEAT - Steady to up 1 cent per bushel
Higher on bargain-buying after the CBOT September contract dipped to a one-month low at $4.69 in early moves. A drop in US spring wheat condition ratings adds support.
The US Department of Agriculture late Monday rated 31 percent of the US spring wheat crop in good to excellent condition, down from 33 percent a week earlier. Analysts surveyed by Reuters on average had expected no change.
The USDA also said the US winter wheat harvest was 88 percent complete and the spring wheat harvest was 9 percent complete.
CBOT September soft red winter wheat last traded up 1/2 cent at $4.75 per bushel; K.C. September hard red winter wheat was up 1-1/2 cents at $4.76-1/4; MGEX September spring wheat was up 3-1/2 cents at $7.34-3/4.
CORN - Down 1 to 2 cents per bushel
Lower on spillover weakness from soybeans and forecasts for mild temperatures in the US Corn Belt this month. Fresh export demand may lend underlying support.
The USDA said private exporters sold 100,000 tonnes of US corn to Colombia for delivery during the 2017/18 marketing year that begins Sept. 1, 2017. The announcement marked the second US corn sale to Colombia in as many days.
The USDA late Monday rated 61 percent of the US corn crop in good to excellent condition, down from 62 percent a week earlier. Analysts surveyed by Reuters on average had expected no change.
CBOT December corn last traded down 2 cents at $3.82-3/4 per bushel.
SOYBEANS - Down 12 to 15 cents per bushel
Lower on a surprise improvement in soybean condition ratings in the USDA's weekly crop progress report. Forecasts for mild temperatures in the US Midwest this month add pressure.
The USDA late Monday rated 59 percent of the US soybean crop in good to excellent condition, up from 57 percent a week earlier. Analysts surveyed by Reuters on average had expected no change.
The CBOT reported 715 deliveries against August soybean futures, along with 178 soymeal deliveries and 838 soyoil deliveries.
CBOT November soybeans last traded down 14-3/4 cents at $9.92-1/2 a bushel.
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