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 Thursday.
WHEAT - Steady to down 2 cents per bushel
Wheat easing on technical selling after the benchmark CBOT September soft red winter wheat contract hit resistance at its 100-day moving average during the overnight trading session.
The US Agriculture Department said weekly export sales of wheat totaled 383,000 tonnes, in line with forecasts for 300,000 tonnes to 600,000 tonnes.
CBOT September soft red winter wheat last traded down 1-1/2 cents at $4.85-3/4 a bushel. K.C. September hard red winter wheat was last up 1/2 cent at $4.23-1/4 a bushel and MGEX September spring wheat last traded 1-1/4 cents higher at $5.20-3/4.
CORN - Steady to up 2 cents per bushel
Technical buying, bargain-hunting supportive to corn market but gains limited by poor export demand, good weather for crop development in US Midwest.
Corn export sales totaled 272,600 tonnes, below forecasts for 300,000 to 850,000 tonnes.
Most-active CBOT December corn futures contract found support at low end of 20-day Bollinger range.
USDA said corn export sales CBOT December corn last traded up 1 cent at $4.11 a bushel.
SOYBEANS - Steady to down 2 cents per bushel
Soybean futures sank to seven-week low during overnight trading. Bargain hunters expected to limit declines in soy but concerns about trade war with China and good US growing weather to limit buying opportunities.
Consolidation trade for most-active November contract noted around the low end of its 20-day Bollinger range.
CBOT November soybeans fell below the 50 percent retracement point on a Fibonacci chart tracking its spring rally to $9.48 a bushel.
USDA said that export sales of soybeans totaled 448,600 tonnes. The total included 68,000 tonnes of new-crop sales to China. Analysts had been expecting soy export sales in a range from 100,000 tonnes to 700,000 tonnes.
CBOT November soybeans last traded down 1/2 cent at $8.81 a bushel.