CHICAGO: Following are US trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Monday.
WHEAT - Up 3 to 5 cents per bushel
* Weak dollar, short-covering to support wheat amid broad rally in commodities sector. Light deliveries also a bullish factor. Profit-taking expected at peaks amid concerns about heavy competition in the export market.
* CBOT March soft red winter wheat contract briefly broke through 200-day moving average during overnight trading but failed to hold support above that key technical point. Contract then dropped below 40-day and 50-day moving averages.
* CBOT reported zero deliveries against the expiring December soft red winter wheat futures contract and 400 K.C. hard red winter wheat deliveries. There was one delivery against MGEX December spring wheat futures.
* CBOT March wheat traded up 4-3/4 cents at $5.20-1/2 per bushel. K.C. March hard red winter wheat was 4 cents higher at $5.04-1/4 bushel and MGEX March spring wheat was up 4-1/4 cents at $5.80.
CORN - Up 3 to 5 cents per bushel
* Corn futures following soybeans higher.
* Most-active corn contract hit highest since Aug. 9 during overnight trading.
* CBOT reported two deliveries against its expiring December contract.
* CBOT March corn traded up 4 cents at $3.81-3/4 per bushel.
SOYBEANS - Up 15 to 20 cents per bushel
* Soybeans firming on truce in US-China trade war following meeting between Donald Trump and Xi Jinping. Market gapped higher at start of overnight trading, with most active-contract peaking at its highest since June 15. Prices ended overnight session well below their highs.
* Chinese traders said China will need to drop its steep tariffs imposed on a range of American farm products earlier this year before it can fulfill its pledge to buy a "very substantial" amount of US goods.
* The CBOT reported 82 deliveries against its December soymeal futures contract. There were 1,183 deliveries against December soyoil futures.
* CBOT January soybeans traded 16-1/2 cents higher at $9.24 a bushel.
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