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 Monday.
WHEAT - Up 1 to 3 cents per bushel
Light technical bounce after the CBOT September contract dipped to a seven-week low on Friday. Strength in corn and soy lends support.
Traders adjusting positions ahead of the US Department of Agriculture's monthly supply/demand reports on Thursday.
CBOT September soft red winter wheat last traded up 2-3/4 cents at $4.57-1/2 per bushel; K.C. September hard red winter wheat was up 2-3/4 cents at $4.62-1/4 and MGEX September spring wheat was up 5 cents at $7.21-1/4.
CORN - Up 2 to 4 cents per bushel
Higher on technical buying and short-covering ahead of the USDA's monthly supply/demand reports on Thursday. Worries about dry conditions in portions of the western Corn Belt add support.
The USDA said private exporters sold 180,800 tonnes of US corn to Mexico for delivery in the 2017/18 marketing year that begins Sept. 1, 2017.
CBOT December corn last traded up 3-1/2 cents at $3.84-1/2 per bushel.
SOYBEANS - Up 6 to 8 cents per bushel
Higher in a technical bounce after the benchmark CBOT November contract fell 5.5 percent last week. Worries about dryness in portions of the western US Midwest add support.
The USDA said private exporters sold 206,000 tonnes of US soybeans to unknown destinations for delivery in the 2016/17 marketing year that began Sept. 1, 2016.
Two major Chinese soybean buyers have resold more than 500,000 tonnes of product in recent weeks, sources familiar with the deals said, amid growing concerns about losses among crushers and congestion at a major port in the world's top oilseed buyer.
The CBOT reported 343 deliveries against August soybean futures, along with 72 soymeal deliveries and 442 soyoil deliveries.
CBOT November soybeans last traded up 7-3/4 cents at $9.64-1/2 a bushel.
Comments
Comments are closed for this article.