CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday.
Wheat - Down 2 to 3 cents per bushel
CBOT wheat fell on pressure from the active harvests in the U.S. and the Black Sea, which are expected to be sizeable.
However, the wheat market is underpinned by short-covering and bargain-buying after last week’s deep losses, with prices trading close to multi-year lows reached in May.
CBOT September soft red winter wheat was last down 3-1/4 cents to $5.45-3/4 per bushel. K.C. September hard red winter wheat was last down 2-1/4 cents to $5.29 per bushel, and Minneapolis September spring wheat was last down ¼ cent to $6.26-3/4 per bushel.
Corn - Down 2 to 3 cents per bushel
CBOT corn eased on Wednesday to remain near contract lows as favorable crop weather was expected to continue in the U.S. Midwest, reinforcing the prospect of a bumper harvest.
Wheat up 2-4 cents, corn down 5-7, soy down 8-10
With a mix of showers and warm, mild weather set to continue, traders currently see limited threats to corn crops as they approach the crucial pollination stage.
Upcoming rains will minimize dryness in the U.S. Midwest, an analyst note said.
Meanwhile, rival exporter Brazil is harvesting what some analysts anticipate will be a record second-corn crop.
CBOT December corn was down 2-3/4 cents to $4.03-1/4 per bushel.
Soybeans - Up 7 to 9 cents per bushel
CBOT soybeans ticked higher on short covering ahead of the Fourth of July holiday weekend as well as strengthening soyoil futures.
Soyoil futures rose after a tax-cut and spending bill adopted by the U.S. Senate included a measure to restrict biofuel credits to North American feedstock.
However, expectations of ample supplies have also weighed on the soybean market.
CBOT November soybeans were last up 6-1/2 cents to $10.33-3/4 per bushel.
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