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 Tuesday.
NOTE: Friday is the last trading day for CBOT July options.
WHEAT - Down 9 to 11 cents per bushel
Wheat heading lower for a fifth straight session, following broad declines in commodities amid heightened trade tensions between the United States and China. Additional pressure from a strong dollar, the expanding US winter wheat harvest and improving spring wheat crop ratings.
CBOT July soft red winter wheat fell to $4.78-1/2, its lowest since April 24, ahead of the break in trade.
The US Department of Agriculture late Monday said the US winter wheat harvest was 27 percent complete, ahead of the five-year average of 19 percent.
The USDA also rated 78 percent of the US spring wheat crop in good to excellent condition, a jump from 70 percent a week earlier.
Trade awaits the results of an Egyptian wheat purchase tender. No US wheat was offered.
CBOT July soft red winter wheat was last down 11-1/4 cents at $4.78-3/4 per bushel. K.C. July hard red winter wheat last traded down 12 cents at $4.87-1/2 and MGEX July spring wheat was down 4-1/4 cents at $5.59-1/2 per bushel.
CORN - Down 6 to 8 cents per bushel
Corn down, with most months hitting contract lows in early moves, as escalating trade tensions between the United States and China cast a bearish tone across financial markets. Favorable US crop weather adds pressure, boosting corn yield prospects.
The USDA late Monday rated 78 percent of the US corn crop as good to excellent, up from 77 percent the previous week. Analysts on average had expected ratings to decline by 1 percentage point.
CBOT July corn last traded down 7-1/2 cents at $3.48-1/2 a bushel.
SOYBEANS - Down 20 to 23 cents per bushel
Soybeans tumble on escalating trade tensions between the United States and China, the world's biggest soy importer. US President Donald Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate, in a rapid escalation of the trade conflict between the world's two biggest economies.
Contract lows hit in several months including spot July soybeans, and across the board in soyoil futures.
Favorable Midwest weather adds pressure, bolstering early prospects for a big US crop.
The USDA late Monday rated 73 percent of the US soybean crop as good to excellent, down from 74 percent the previous week. Analysts on average had expected no change.
CBOT July soybeans last traded down 22-3/4 cents at $8.85-3/4 per bushel.
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