CHICAGO: Following are U.S. 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 Tuesday.
WHEAT: Down 3 to 6 cents per bushel Wheat futures falling on profit-taking setback, with firmer dollar that makes U.S. supplies less attractive to overseas buyers adding pressure.
Benchmark CBOT December soft red winter wheat found support during the overnight trading session near Monday's low of $7.24.
CBOT December soft red winter wheat last traded down 5-1/2 cents at $7.28 per bushel. K.C. December hard red winter wheat was last off 4-1/2 cents at $7.13 per bushel, while MGEX December spring wheat was last 4 cents lower at $9.01-3/4.
CORN: Up 4 to 8 cents per bushel Corn futures rising on concerns about deteriorating crop conditions in U.S. Midwest.
U.S. Agriculture Department on Monday afternoon said that 60% of the U.S. corn crop was rated good to excellent, down 2 percentage points from a week earlier and 1 point lower than the average of analysts' expectations.
Private exporters reported the sale of 125,300 tonnes of corn to Mexico for delivery in the 2021/22 marketing year, USDA said.
CBOT December corn rose above the low end of its 20-day Bollinger range overnight.
CBOT December corn last traded up 4 cents at $5.39-1/2 per bushel.
SOYBEANS: Up 15 to 20 cents per bushel Technical buying expected to support soybeans. USDA reports that showed 1 percentage point decline in good-to-excellent ratings for U.S. crop also supportive. Private exporters reported the sale of 132,000 tonnes of soybeans to China for delivery in the 2021/22 marketing year, USDA said.
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