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 - Steady to down 1 cent per bushel
Steady to lower on a lack of supportive news and spillover weakness from soybeans and corn. CBOT December wheat is hovering above a contract low set last week.
Egypt is considering whether to reject a 63,000-tonne Romanian wheat cargo, reviving fears of a return to tight import restrictions that halted the country's billion dollar grain trade last year.
CBOT December soft red winter wheat last traded down 3/4 cent at $4.41-3/4 per bushel, K.C. December hard red winter wheat was down 3/4 cent at $4.41-1/2 while MGEX December spring wheat fell 4 cents to $6.78-1/2.
CORN - Down 2 to 3 cents per bushel
Lower on chart-based selling and rains falling in the western Midwest, including top corn producer Iowa, that are easing concerns about dryness. CBOT December corn dipped to $3.62-1/4 a bushel ahead of the daily break in trade, its lowest since September 2016. Traders are eyeing the December's contract low of $3.58-1/2.
Trade awaits insights from the start of the Farm Journal Midwest Crop Tour. Participants on the four-day tour begin scouting fields on Monday.
CBOT December corn last traded down 3-1/4 cents at $3.62-1/2 per bushel.
SOYBEANS - Down 4 to 6 cents per bushel
Lower in rangebound trade, pressured by beneficial rains falling in the Midwest crop belt, including Iowa. Fresh export business underpins values.
The USDA said private exporters sold a total of 661,000 tonnes of US soybeans for delivery during the 2017/18 marketing year that begins on Sept. 1. The total included 463,000 tonnes sold to unknown destinations and 198,000 tonnes to China.
CBOT November soybeans last traded down 4-3/4 cents at $9.33 a bushel.
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