CHICAGO: Following are US trade 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 - Up 6 to 7 cents per bushel
* Rose for a second straight day on technical buying after surpassing the 20- and 30-day moving averages around $5.14 cents in the CBOT July contract.
* The association of German farm cooperatives cut its forecast of Germany's 2018 wheat crop to 22.89 million tonnes, down 6.5 percent on the year after grains suffered from dry weather in past weeks.
* CBOT July soft red winter wheat last up 6-1/2 cents at $5.16-1/2 per bushel. K.C. July hard red winter wheat last traded up 7-1/4 cents at $5.36-1/4 and MGEX July spring wheat was up 4-1/2 cents at $6.01-1/2 a bushel.
CORN - Steady to up 1 cent per bushel
* Corn drew support from follow-through buying with the July contract above 200-day moving average support of $3.82 cents and below 100-day moving average technical resistance at $3.89-1/4 cents.
* The Trump administration indefinitely delayed a proposed overhaul of US biofuels policy aimed at reducing costs for the oil industry, under pressure from corn state lawmakers who worry the move would undermine demand for corn-based ethanol.
* CBOT July corn last traded up 1 cent at $4.05 a bushel. SOYBEANS - Steady to up 1 cent per bushel
* Soybeans moved in a narrow trading range with the CBOT July contract hovering below major moving averages.
* Markets were limited by mostly favorable crop growing weather in the US Midwest, bolstering yield prospects.
* CBOT July soybeans last up 1/4 cent at $10.01-1/2 per bushel.
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