Corn up 3-5 cents, wheat up 4-5 cents, wheat steady-down 2 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 Thursday.

WHEAT - Steady to down 2 cents per bushel

Wheat easing on technical selling, firm dollar.

The US Agriculture Department said that export sales of wheat totaled 736,600 tonnes in the week ended Jan. 28, near the high end of market estimates that ranged from 250,000 to 750,000 tonnes.

CBOT March wheat hit technical resistance at its five-day moving average before falling below its 30-day moving average during overnight trading.

CBOT March soft red winter wheat last traded down 1-1/2 cents at $6.46-3/4 per bushel. K.C. March hard red winter wheat was last up 1 cent at $6.26-1/2 per bushel. MGEX March spring wheat was 1 cent higher at $6.26 per bushel.

CORN - Up 3 to 5 cents per bushel

Strong exports underpin corn market. USDA said weekly corn export sales were a record 7.52 million tonnes following massive purchases by China. The weekly total was in line with forecasts that ranged from 6 million to 8.3 million tonnes.

Most-active corn peaked at $5.58, its highest since June 28, 2013, overnight.

CBOT March corn was last 3-1/2 cents higher at $5.55-1/2 per bushel.

SOYBEANS - Up 4 to 5 cents per bushel

Soybean futures firming on hopes of a pick-up in demand for US supplies due to harvest delays in Brazil.

USDA said weekly soybean export sales totaled 1.457 million tonnes, in line with trade expectations.

Benchmark March soybeans failed to hold support above 20-day moving average overnight.

CBOT March soybeans were last up 4 cents at $13.75-1/4 per bushel.