Corn, wheat mixed; soy up 8-10 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. CST (1430 GMT) on Monday.

Prices for all three commodities spiked higher after US drugmaker Pfizer said on Monday its experimental COVID-19 vaccine was more than 90% effective. Grain and oilseed prices quickly gave up the bulk of those gains on profit taking.

WHEAT - Mixed, up 2 to down 2 cents

Wheat futures steadying after hitting one-week low overnight.

CBOT December wheat failed to hold support above its five-day and 30-day moving averages overnight.

CBOT December soft red winter wheat last traded down 3/4 cent at $6.01-1/4 per bushel. K.C. December hard red winter wheat was last up 1/4 cent at $5.67. MGEX December spring wheat was last 1-3/4 cents lower at $5.55-1/2.

CORN - Mixed, up 2 to down 2 cents

Choppy trade expected ahead of USDA report.

CBOT December corn was last 1/2 cent lower at $4.06-1/4 per bushel.

SOYBEANS - Up 8 to 10 cents

Soybeans supported by rally in crude oil market and dry weather in Brazil stressing crops in key growing regions, particularly in the southern part of the country.

Strong export demand adds to soybean strength. The most-active contract hit its highest since July 14, 2016 overnight.

Private exporters reported the sale of 123,000 tonnes of soybeans to unknown destinations, USDA said.

CBOT January soybeans broke through technical resistance at the high end of the contract's 20-day Bollinger range.

CBOT January soybeans last traded up 8 cents at $11.09-1/2 per bushel.