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 Friday.
NOTE: Friday is the last trading day for CBOT October options.
WHEAT - Up 1 to 2 cents per bushel
Higher on technical buying including short-covering, worries about poor crop weather in Australia and Argentina, and fears that the US Department of Agriculture will lower its US spring wheat production forecast in its Sept. 29 small grains report.
CBOT December wheat reached $4.55 in early moves, its highest since Aug. 16.
CBOT December soft red winter wheat last traded up 1-1/2 cents at $4.54 per bushel, K.C. December hard red winter wheat was last up 2-1/4 cents at $4.51-3/4 while MGEX December spring wheat was up 4-3/4 cents at $6.29.
CORN - Up 1 to 2 cents per bushel
Rangebound trade continues as market awaits yield reports from the expanding Midwest corn harvest.
Forecasts called for showers in parts of the northwest Corn Belt in the next few days but central and eastern portions of the belt should have dry and warm conditions for harvest.
CBOT December corn last traded up 2 cents at $3.52-1/4 per bushel.
SOYBEANS - Up 6 to 8 cents per bushel
Higher on continued export demand, including from top global soy buyer China, and chart-based buying. The bellwether CBOT November soybean contract reached $9.79-1/2 in early moves, its highest since Aug. 10. The contract is trading near its 200-day moving average.
The USDA said private exporters sold 190,000 tonnes of US soybeans to Mexico for delivery in the 2017/18 marketing year that began Sept. 1.
Trade in Malaysian November palm oil futures was closed for a holiday.
CBOT November soybeans last traded up 7-1/2 cents at $9.78-1/4 a bushel.
Comments
Comments are closed for this article.