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 - Steady to down 2 cents per bushel
* Technical setback to weigh on wheat market. CBOT December wheat turned negative after briefly breaking through 30-day and 200-day moving averages during overnight trading.
* CBOT wheat hit highest since Sept. 24 overnight.
* CBOT December wheat last traded down 3/4 cent at $5.18-1/2 per bushel. K.C. December hard red winter wheat was 1/2 cent lower at $5.22 and MGEX December spring wheat was up 1 cent at $5.92-1/2.
CORN - Steady to down 2 cents per bushel
* Technical selling expected after benchmark CBOT December corn contract failed to take out Tuesday's high during overnight trading session. Contract also failed to hold support above 50-day moving average.
* CBOT December corn last traded down 3/4 cent at $3.66-3/4 per bushel.
SOYBEANS - Up 2 cents to 4 cents per bushel
* Market supported by forecasts for harvest-delaying rain in US Midwest. Soybean futures hit highest since Aug. 23 during overnight trading session.
* Consolidation trade for benchmark CBOT November soybean contract noted overnight at high end of 20-day Bollinger range.
* CBOT November soybeans last traded up 3-1/4 cents at $8.69-1/4 a bushel.
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