CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Friday.
WHEAT - Down 4 to 5 cents per bushel
Lower on follow-through selling after Thursday's weak technical close in which the CBOT March contract set a four-month high before turning lower. Also, some forecasts called for a chance of much-needed moisture in the dry southern Plains winter wheat belt late next week.
Trade awaits results of an Egyptian wheat tender. No US wheat was offered.
CBOT March soft red winter wheat last traded down 4-3/4 cents at $4.51-1/2 per bushel. K.C. March hard red winter wheat was down 5-1/2 cents at $4.69, and MGEX March spring wheat was down 4 cents at $6.09.
CORN - Down 1 to 2 cents per bushel
Lower on profit-taking a day after the CBOT March contract climbed to a three-month high on export demand and a bullish US ending stocks forecast from the US Department of Agriculture.
CBOT March corn last traded down 1-1/4 cents at $3.64-1/2 per bushel.
SOYBEANS - Down 3 to 5 cents per bushel
Lower in rangebound trade as brokers monitor much-needed rains falling in parts of Argentina's crop belt. Worries about a return to dry conditions there underpin soybean and soymeal values.
Trade still digesting Friday's monthly USDA report in which the government raised its forecast of US 2017/18 soybean ending stocks.
CBOT March soybeans last traded down 4-1/4 cents at $9.83-1/2 per bushel.
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