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 Tuesday.
WHEAT - Up 7 to 9 cents per bushel
Wheat market underpinned by concerns that heavy rains may cause damage and delay harvest in US Midwest and southern Plains.
Support for benchmark CBOT July soft red winter wheat futures noted at 100-day moving average during overnight trading session.
Most-active CBOT wheat futures hit their highest on a continuous basis since Feb. 25 overnight.
Good-to-excellent ratings for the US hard red winter wheat crop rose to 66 percent as of May 19 from 64 percent a week earlier, according to a US Agriculture Department report.
CBOT July wheat last traded up 8-1/2 cents at $4.86-3/4 per bushel. K.C. July hard red winter wheat was 9-1/4 cents higher at $4.43-3/4, and MGEX July spring wheat rose 4-1/4 cents to $5.47-3/4.
CORN - Up 6 to 10 cents per bushel
US government report on Monday afternoon that showed US corn planting on slowest pace ever fuels more gains in corn futures.
Further delays expected due to rainy forecasts, adding more strength to corn market.
Most-active CBOT corn hit its highest since June 1 on a continuous basis.
USDA report showed farmers had seeded just 49 percent of their intended corn acreage as of May 19. The five-year average is 80 percent.
CBOT July corn last traded up 6-3/4 cents at $3.95-3/4 per bushel.
SOYBEANS - Up 7 to 10 cents per bushel
Short-covering bounce expected as investment funds unwind bearish position after watching most-active soybean contract nearly 50 cents in the past week.
CBOT July soybeans traded above 20-day moving average overnight for the first time since April 16. The contract hit resistance at that level during previous four sessions.
USDA said soybean planting was 19 percent complete, behind the five year average of 47 percent.
CBOT July soybeans last traded up 7-3/4 cents at $8.39-1/2 per bushel.
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