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 Friday.
WHEAT - Steady to up 2 cents per bushel
Wheat finding support from forecasts for rain in eastern Midwest and southern Plains that will delay harvest and threaten crop quality in those key growing regions.
Profit-taking expected to keep gains in check.
The most-active CBOT soft red winter wheat futures contract hit a seven-month high during the overnight trading session.
CBOT July wheat last traded up 1-1/2 cents at $5.37 a bushel. K.C. July hard red winter wheat was last up 2 cents at $4.70-1/4, and MGEX July spring wheat was 1-1/4 cents higher at $5.67-1/2.
CORN - Up 3 cents to 6 cents per bushel
Follow-through, technical buying expected after three straight days of gains took out the highs hit at the end of May. Concerns about yields in US Midwest due to shortened growing season after historic planting delays underpin market.
The most-active CBOT corn futures contract hit its highest in nearly four years overnight, peaking at $4.48-1/4 a bushel, its highest since July 16, 2015.
Next resistance point for benchmark CBOT July corn futures seen at high end of 20-day Bollinger range.
CBOT July corn last traded up 5-1/4 cents at $4.47-1/4 per bushel.
SOYBEANS - Up 3 cents to 6 cents per bushel
Forecasts for more rain in eastern US Midwest that will further prolong planting delays boost soybean futures, which have risen for four days in a row.
Strength in corn also supportive to soybeans.
Traders watching to see if benchmark CBOT July soybean futures contract can break through technical resistance at 100-day moving average.
CBOT July soybeans last traded up 4 cents at $8.92 per bushel.
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