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 14 to 18 cents per bushel
Technical buying including short-covering as corn and soybeans climb on worries about US planting delays.
Also, weekend storms brought flooding to parts of Oklahoma and Kansas in the southern Plains, potentially hurting the quality of developing hard red winter wheat.
Some analysts noting dry conditions in portions of the Canadian Prairies.
Benchmark CBOT July soft red winter wheat contract reached $5.09 ahead of the break in trade, its highest since Feb. 19.
The supplement to the US Commodity Futures Trading Commission's weekly commitments report showed large speculators cut their net short position in CBOT wheat by about 33,000 contracts in the week to May 21, to 76,861 lots.
CBOT July wheat last traded up 18 cents at $5.07-1/2 per bushel. K.C. July hard red winter wheat was last up 19-1/4 cents at $4.61-1/4, and MGEX July spring wheat gained 12-1/2 cents to $5.60-1/2.
CORN - Up 5 to 9 cents per bushel
Higher on concerns that heavy weekend rains across the Midwest will further delay the planting of the US corn crop and could reduce acreage.
Most-active CBOT July corn reached $4.15-1/4 in early moves, the highest spot corn price since June 2016.
The supplement to the CFTC's weekly commitments report showed large speculators slashed their massive net short position in CBOT corn by about 170,000 contracts in the week to May 21, to 121,522 lots.
CBOT July corn last traded up 8-3/4 cents at $4.13 per bushel.
SOYBEANS - Up 11 to 12 cents per bushel
Higher on spillover strength from corn and worries about wet weather slowing planting in the US Midwest.
Rallies capped by expectations that seeding delays may encourage producers to switch some acres intended for corn to soybeans.
The CFTC's weekly commitments report showed large speculators pared their net short position in CBOT soybeans by nearly 20,000 contracts in the week to May 21, to 157,324 lots.
CBOT July soybeans last traded up 11-1/2 cents at $8.41-1/4 per bushel.
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