CHICAGO: Following are US trade expectations for the opening of grain and soya complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Wednesday.
WHEAT - Up 12 to 16 cents per bushel
Wheat poised for rally, with spring wheat production in focus due to dryness in northern US Plains. Concerns about harvest shortfalls in Black Sea region also supportive.
Spring wheat yields in southern and east-central North Dakota are well below average as drought slashed production potential, scouts on an annual crop tour said on Tuesday.
Russia's agriculture ministry said average wheat yield from the country's harvest to date was 3.48 tonnes per hectare, down from 3.59 a year ago.
Benchmark CBOT September soft red winter wheat futures contract broke through technical resistance at its five-day moving average during the overnight trading session.
CBOT September soft red winter wheat was last 14-1/2 cents higher at $6.89 per bushel; K.C. September hard red winter wheat gained 12-3/4 cents to $6.54-1/4 per bushel overnight and MGEX September spring wheat rose 14-3/4 cents to $8.93 per bushel.
CORN - Steady to up 2 cents per bushel
Corn firming on technical buying but overnight rains in western parts of the US Midwest limiting gains.
Support for benchmark CBOT December corn futures noted overnight near Tuesday's low of $5.42-1/4 a bushel.
CBOT December corn last traded up 1-1/4 cents at $5.47-1/2 per bushel.
SOYBEANS - Up 6 to 10 cents per bushel
Soybeans seen firmer on bargain buying after four straight days of declines.
CBOT November soybeans hit resistance at their 10-day moving average.
CBOT August soybeans last traded 6-1/2 cents higher at $14.24-3/4 a bushel, while November soybeans were up 7-1/4 cents at $13.66-3/4 per bushel.
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