Soybeans, corn steady-up 2 cents; wheat up 3-5 cents
- CBOT December soft red winter wheat found support overnight at its five-day moving average. Resistance noted at its 20-day moving average.
- CBOT December corn was last 1/4 cent higher at $4.09-1/2 per bushel.
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. CST (1430 GMT) on Thursday.
WHEAT - Up 3 cents to 5 cents
Technical buying expected in wheat.
CBOT December soft red winter wheat found support overnight at its five-day moving average. Resistance noted at its 20-day moving average.
CBOT December soft red winter wheat last traded up 4 cents at $6.13-1/4 per bushel. K.C. December hard red winter wheat was last up 4 cents at $5.67. MGEX December spring wheat was last 3-3/4 cents higher at $5.64-3/4.
CORN - Steady to up 2 cents
Corn market underpinned by strong export prospects but gains kept in check by position squaring ahead of US Agriculture Department's monthly supply and demand report on Tuesday.
An attache report from the US Department of Agriculture's Foreign Agricultural Service post in Beijing estimated China's corn imports in the 2020/21 marketing year at 22 million tonnes, well above the USDA's official forecast of 7 million tonnes.
CBOT December corn was last 1/4 cent higher at $4.09-1/2 per bushel.
SOYBEANS - Steady to up 2 cents
Consolidation trade expected in soybeans after most active contract hit highest in more than four years on Thursday. Concerns about dryness in Brazil continue to provide support, traders said.
CBOT January soybeans last traded up 1/2 cent at $11.04-1/4 per bushel.
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