Soy up 9-12 cents, wheat up 3-4 cents, corn steady-up 2 cents
- Concerns about dry conditions limiting global production underpin wheat market.
- Gains in wheat and soybeans support corn futures, which have risen 2.4% this week and hit their highest since March 10 overnight.
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 Friday.
WHEAT - Up 3 cents to 4 cents per bushel
Concerns about dry conditions limiting global production underpin wheat market.
Most-active CBOT soft red winter wheat contract hit its highest on a continuous basis since Sept. 2.
Technical resistance for benchmark CBOT December soft red winter wheat contract noted at high end of its 20-day Bollinger range,
CBOT December soft red winter wheat last traded up 4 cents at $5.60-1/4 per bushel. K.C. December hard red winter wheat was last up 5 cents at $4.92-1/2 a bushel. MGEX December spring wheat was last up 2-3/4 cents at $5.44-1/4 a bushel.
CORN - Steady to up 2 cents per bushel
Gains in wheat and soybeans support corn futures, which have risen 2.4% this week and hit their highest since March 10 overnight.
Most-active CBOT December corn futures contract failed to hold support above the high end of its 20-day Bollinger range overnight.
CBOT December corn last traded up 1-1/2 cents at $3.76-3/4 per bushel.
SOYBEANS - Up 9 cents to 12 cents per bushel
Strong export demand continues to fuel rallies in soybeans , which have risen 4.4% this week and were on track for their sixth straight weekly gain. The most-active contract topped out at its highest since May 29 overnight.
Strength in vegetable oils lends further support to soybeans.
CBOT November soybeans last traded up 9-1/2 cents at $10.38 per bushel.
Comments
Comments are closed for this article.