Soy up 15-20 cents, wheat up 14-18 cents, corn up 6-8 cents
- Benchmark CBOT September soft red winter wheat contract rose above the high end of its 20-day Bollinger range during the overnight trading session
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 14 to 18 cents per bushel
Wheat futures rallying on support from the US Agriculture Department's cuts to the harvest outlooks in the United States, Canada and Russia on Thursday.
Most-active CBOT soft red winter wheat contract hit its highest on a continuous basis since February 2013 during the overnight trading session. MGEX spring wheat futures, which track the crop in the drought-stricken northern US Plains, hit its highest since November 2012 and K.C. hard red winter wheat rose to its highest since November 2012.
Benchmark CBOT September soft red winter wheat contract rose above the high end of its 20-day Bollinger range during the overnight trading session.
Wheat ends higher; global supply concerns lift
CBOT September soft red winter wheat was last 16-3/4 cents higher at $7.70-1/4 per bushel; K.C. September hard red winter wheat gained 13-3/4 cents to $7.52-1/2 per bushel, and MGEX September spring wheat added 14-1/2 cents to $9.47-1/4 per bushel.
CORN - Up 6 to 8 cents per bushel
Corn firm on follow-through buying after the USDA's reduced US harvest forecast on Thursday fell below market expectations and sparked a rally in the futures market.
CBOT December corn rose above the high end of its 20-day Bollinger range overnight.
CBOT December corn last traded 7-1/4 cents higher at $5.80-1/2 per bushel.
SOYBEANS - Up 15 to 20 cents per bushel
Soybeans led higher by new-crop contracts, supported by signs of strong export demand this week as well as USDA's cuts to the US production outlook.
Private exporters reported soybean sales of 126,000 tonnes to China and 326,200 tonnes to unknown destinations, the U.S. Agriculture Department said.
CBOT November soybean futures rose above their 40-day and 100-day moving averages overnight. Resistance was noted at the contract's 50-day moving average.
CBOT November soybeans were last up 14-3/4 cents at $13.55-3/4 per bushel.
Comments
Comments are closed.