Wheat down 5-10 cents, corn down 2-4 cents, soy down 4-6 cents
- Wheat futures retreating from 2-1/2-week highs as traders await crop damage assessments from a cold weather snap in US Plains.
- Most-active CBOT March soft red winter wheat dropped below its 10-day and 20-day moving averages during overnight trading.
CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) 8:30 a.m. CST (1430 GMT) on Wednesday.
WHEAT - Down 5 to 10 cents per bushel
Wheat futures retreating from 2-1/2-week highs as traders await crop damage assessments from a cold weather snap in US Plains.
Most-active CBOT March soft red winter wheat dropped below its 10-day and 20-day moving averages during overnight trading.
CBOT March soft red winter wheat last traded down 9-1/4 cents at $6.48-1/4 per bushel. K.C. March hard red winter wheat was last 7-1/4 cents lower at $6.30-1/4 per bushel. MGEX March spring wheat dropped 5-3/4 cents to $6.25-1/2 per bushel.
CORN - Down 2 to 4 cents per bushel
Profit-taking setback expected in corn after most-active contract rallied 2.5% on Tuesday.
Benchmark CBOT March contract found support at its 10-day moving average overnight.
CBOT March corn was off 2-1/2 cents at $5.49-3/4 per bushel.
SOYBEANS - Down 4 to 6 cents per bushel
Soybeans easing after rising for five of the previous six sessions, with traders monitoring harvest reports in South America.
Traders watching to see if benchmark CBOT March soybean futures can hold support above 10-day moving average after testing that key technical point on Tuesday.
CBOT March soybeans were last 4-1/2 cents lower at $13.80-1/4 per bushel.
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