CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1330 GMT) on Wednesday.
WHEAT
Up 12 to 15 cents per bushel.
US wheat futures firm on bargain buying after falling sharply on Tuesday. CBOT May soft red winter wheat last traded up 15-1/4 cents at $10.29-1/2 a bushel. K.C. May hard red winter wheat was up 18 cents at $10.42-1/2 a bushel, while MGEX May spring wheat rose 16-1/4 cents to $10.59-1/4 a bushel.
CORN
Up 10 to 14 cents per bushel.
Technical bounce expected in corn, with follow-through buying predicted after traders noted the corn market closed well above its session lows on Tuesday.
Benchmark CBOT May corn contract rose above the low end of its 20-day Bollinger range during the overnight trading session.
CBOT May corn futures last traded 13-3/4 cents higher at $7.40 a bushel.
SOYBEANS
Up 8 to 10 cents per bushel
Strength in crude oil pulling soybean futures higher. Good export demand for US supplies also supportive.
Private exporters reported the sale of 128,000 tonnes of soybeans for delivery to Mexico in the 2022/23 marketing year, the US Agriculture Department said.
CBOT May soybean futures found technical support at their 40-day moving average overnight.
CBOT May soybeans were last up 9-3/4 cents at $16.52-3/4 a bushel.
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