Wheat up 3-5 cents, corn mixed, soy steady-down 2 cents

• Gains in wheat supportive but corn market facing technical pressure.
• Corn futures have fallen 1.0pc this week.
• Gains in wheat supportive but corn market facing technical pressure. Corn futures have fallen 1.0pc this week.

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 Friday.

WHEAT - Up 3 cents to 5 cents per bushel.

Some end-of-week bargain buying expected to boost wheat market. Most-active CBOT wheat contract has fallen in three of the four previous trading sessions and is on track for a weekly loss of 1.9pc.

Traders watching to see if benchmark CBOT March soft red winter wheat contract can break through five-day moving average after hitting resistance at that key technical point on Thursday and during the overnight trading session.

CBOT March soft red winter wheat last traded up 3-3/4 cents at $5.48 per bushel. K.C. March hard red winter wheat  was last up 2-1/4 cents at $4.68-1/4 a bushel and MGEX March spring wheat was last 1-3/4 cents higher at $5.28-1/2 a bushel.

CORN - Mixed, up 1 cent to down 1 cent per bushel.

Gains in wheat supportive but corn market facing technical pressure. Corn futures have fallen 1.0pc this week.

CBOT March corn futures contract hit resistance at its 10-day moving average overnight.

CBOT March corn last traded up 1/4 cent at $3.79-3/4 per bushel.

SOYBEANS - Steady to down 2 cents per bushel.

Soybean futures drifting lower on some mild profit taking after nine straight days of gains.

Hopes for pick-up in Chinese purchases underpin the market and are expected to limit the declines, traders say.

Soybean futures have risen 1.6pc this week, on track for their biggest gain since the week ended Dec. 20.

CBOT March soybeans found technical support overnight after briefly dipping below their 20-day moving average.

CBOT March soybeans last traded down 1/4 cent at $8.96 per bushel.