Corn down 1-2 cents, soy down 2-4 cents, wheat up 1-3 cents

CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Thursday.

WHEAT - Up 1-3 cents

Global demand helps support prices, analysts said.

The US Department of Agriculture reported weekly US wheat export sales were 523,000 tonnes, within estimates for 300,000-600,000 tonnes.

China bought wheat from France, traders said.

CBOT September soft red winter wheat last traded up 3-1/4 cents at $5.15-1/4 per bushel. K.C. September hard red winter wheat was last up 2-1/2 cents at $4.40 a bushel. MGEX September spring wheat last traded 1 cent lower at $5.09.

CORN - Down 1-2 cents

Strong yield estimates in parts of the Midwest pressure prices, traders said.

The Pro Farmer Midwest Crop Tour said Illinois yield prospects are better than last year and the three-year average.

Western Iowa's yield potential is considered below average.

The USDA said weekly US corn export sales were 61,600 tonnes for 2019/2020 and 723,400 for 2020/2021. Analysts expected 100,000-550,000 tonnes for 2019/2020 and 400,000-800,000 tonnes for 2020/2021.

CBOT December corn last traded down 3/4 cents at $3.39 per bushel.

SOYBEANS - Down 2-4 cents

The Pro Farmer crop tour said Illinois soybean pod counts are higher than last year and the three-year average. Pod counts were lower in western Iowa.

China and the United States agreed to hold trade talks "in the coming days" to evaluate their Phase 1 trade deal, the Chinese commerce ministry said.

The USDA said weekly US soybean export sales were -12,700 for 2019/2020 and 2.57 million for 2020/21. Analysts expected 300,000-800,000 tonnes for 2019/2020 and 2 million to 3.1 million for 2020/2021.

CBOT November soybeans last traded down 4-3/4 cents at $9.09-1/4 per bushel. The contract on Wednesday hit its highest since March 5.