Wheat up 5-8 cents, corn up 3-5 cents, soy steady-up 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. CDT (1330 GMT) on Friday.

WHEAT - Up 5 to 8 cents per bushel

Dry conditions in the US Plains support wheat market.

MGEX spring wheat hit a one-month high overnight.

Benchmark CBOT May soft red winter wheat rose above its 100-day moving average for the first time since March 24 during the overnight trading session. Technical resistance was noted at the contract's 30-day moving average.

CBOT May soft red winter wheat was last up 5-1/2 cents at $6.34-1/4 per bushel. K.C. May hard red winter wheat was last up 5-3/4 cents at $5.82-1/4. MGEX May spring wheat was last up 7-1/2 cents at $6.47-3/4.

CORN - Up 3 to 5 cents per bushel

Corn market firming, with traders citing forecasts for cool and wet weather in the US Midwest that could slow prospects for early planting of corn in the region. Concerns about size of Brazil's crop also supportive.

New-crop December corn futures hit contract high overnight.

Traders watching to see if most-active corn futures can rise above $5.85 a bushel, the nearly 8-year high it hit on April 1.

CBOT May corn last traded up 3-3/4 cents at $5.83-1/2 per bushel.

SOYBEANS - Steady to up 2 cents per bushel

Market steadying, with prices expected to remain within recent ranges as traders wait for monthly US Agriculture Department report World Agricultural Supply and Demand Estimates report that is expected to show projected US ending stocks down slightly from a the March forecast.

Benchmark CBOT May soybeans found support at their 10-day and 40-day moving averages during overnight trading.

CBOT May soybeans were last up 1/4 cent at $14.15-1/2 per bushel.