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. CDT (1330 GMT) on Monday.
WHEAT - Down 2 to 5 cents per bushel
* Wheat futures under pressure from forecast for rain in the US Plains, beneficial to crop development in that region.
* Benchmark Chicago Board of Trade May soft red winter wheat futures contract dropped below five-day moving average during overnight trading session before finding support at 20-day moving average.
* MGEX May spring wheat found support at the contract low it hit on Friday during overnight session.
* CBOT May wheat last traded down 4-1/2 cents at $4.63-1/4 per bushel. K.C. May hard red winter wheat was down 2-1/2 cents at $4.28-3/4 a bushel and MGEX May spring wheat was up 1-1/4 cents at $5.23-3/4 a bushel.
CORN - Steady to up 1 cent per bushel
* Consolidation trade expected ahead of monthly US Agriculture Department supply and demand report on Tuesday.
* Corn prices under pressure from wheat drop, expectations that USDA will boost its supply view in Tuesday's report. Support noted from rain forecast, muddy fields that will likely cause planting delays in key US growing areas.
* CBOT May corn last traded up 1/4 cent at $3.62-3/4 per bushel.
SOYBEANS - Up 1 to 3 cents per bushel
* Optimism about potential trade deal with China but lack of details, uncertainty over timing keeps gains in check. Ongoing harvest of South American crop also adds pressure to US soybean futures.
* CBOT May soybean futures rose above 20-day moving average during overnight trading. Contract struggled to hold support above its 30-day moving average.
* CBOT May soybeans last traded up 1-1/2 cents at $9.00-1/2 a bushel.
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