Corn, soybeans steady-down 2 cents; wheat mixed

• Most-active CBOT soft red winter wheat contract fell to its lowest since Dec. 16 during the overnight trading session.
• CBOT March corn last traded 1/2 cent lower at $3.79-1/4 per bushel.
• Corn futures seen as technically weak after the benchmark CBOT March contract faced resistance as it neared its 10-day moving average during the overnight trading session.

CHICAGO: Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.

WHEAT - Mixed, up 2 cents to down 2 cents per bushel.

CBOT soft red winter wheat futures mixed, with nearby contracts rising on bargain buying, short-covering after sharp declines on Tuesday while deferred contracts ease. K.C. hard red winter wheat futures, MGEX spring wheat futures also seen lower, with strong export competition pressuring prices.

Most-active CBOT soft red winter wheat contract fell to its lowest since Dec. 16 during the overnight trading session.

CBOT March soft red winter wheat last traded down up 1/2 cent at $5.42-1/2 per bushel. K.C. March hard red winter wheat  was last off 2 cents at $4.66-1/4 a bushel and MGEX March spring wheat was last down 1/2 cent at $5.30-3/4 a bushel.

CORN - Steady to down 2 cents per bushel.

Corn futures seen as technically weak after the benchmark CBOT March contract faced resistance as it neared its 10-day moving average during the overnight trading session.

CBOT March corn last traded 1/2 cent lower at $3.79-1/4 per bushel.

SOYBEANS - Steady to down 2 cents per bushel.

Soybeans easing after seven straight positive sessions. Expectations for bumper crop in Brazil hanging over the market but losses kept in check by 50 million-bushel increase in U.S. Agriculture Department's export forecasts.

Technical support for CBOT March soybeans noted at 10-day moving average overnight.

CBOT March soybeans last traded unchanged at $8.84-3/4 per bushel.