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 Wednesday.
WHEAT - Up 1 cent to 3 cents bushel
Market seen firming on bargain buying after benchmark CBOT September soft red winter wheat hit contract low on Monday. Prices held support at Monday's low during overnight trading. Ample supplies expected to limit gains.
MGEX spring wheat jumped 2.4 percent overnight on bargain buying after four straight days of declines. The rebound lent spillover support to CBOT soft red winter wheat and K.C. hard red winter wheat contracts.
CBOT September soft red winter wheat traded up 3/4 cent at $4.30-1/4 per bushel, K.C. September hard red winter wheat was 1-3/4 cents higher at $4.28-1/4 while MGEX September spring wheat rose 15-3/4 cents to $6.74.
CORN - Mixed, up 2 cents to down 2 cents per bushel
Technical buying pulled corn market from lows overnight after benchmark December contract held support above Monday's 10-1/2-month low. US Agriculture Department's bearish harvest forecast continues to cast bearish tone over market.
CBOT December corn last traded unchanged at $3.68-1/2 per bushel.
SOYBEANS - Up 1 to 4 cents per bushel
Mild round of bargain buying underpinning market. Expectations for bumper US crop amid forecasts for good growing weather to limit gains. Most-active soybean contract hit lowest since June 30 during overnight session.
CBOT November soybeans traded up 2-1/4 cents at $9.26-1/2 a bushel.
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