NOTE: Because Monday is a US government holiday, the US Department of Agriculture's weekly export inspections and crop progress reports are delayed until Tuesday.
WHEAT - Up 3 to 4 cents per bushel Higher on short-covering after the US Commodity Futures Trading Commission's weekly supplemental commitments report showed non-commercial traders holding a record-large net short position.
Rallies limited by plentiful global and domestic wheat supplies.
Russian wheat export prices rose slightly last week on the back of increased demand from buyers and a stronger rouble, analysts said. CBOT December soft red winter wheat last up 3-3/4 cents at $3.98-1/2 per bushel; K.C. December hard red winter wheat up 1-3/4 cents at $4.04-3/4; MGEX December spring wheat last traded unchanged at $5.22.
CORN - Steady to up 1 cent per bushel Steady to higher as traders adjust positions ahead of the USDA's monthly supply/demand reports on Wednesday. Rallies limited by pressure from the ongoing US harvest following a dry weekend in the Midwest.
Analysts surveyed by Reuters on average expect the USDA on Wednesday to lower its US corn yield estimate to 173.5 bushels per acre, from 174.4 last month.
The US CFTC's weekly commitments report showed non-commercial traders reduced their net short position in CBOT corn in the week to Oct. 4 by about 26,000 contracts, to 165,289 lots.
CBOT December corn last up 3/4 cent at $3.40-1/2 per bushel.
SOYBEANS - Down 2 to 4 cents per bushel Lower on pressure from the ongoing harvest of a likely record-large US soybean crop, and expectations for the USDA to raise its estimate of the US soybean yield in Wednesday's supply/demand reports. Strong soy export demand underpins the market, with top buyer China returning from a holiday week off.
Analysts surveyed by Reuters on average expect the USDA next week to raise its US soybean yield estimate to 51.5 bushels per acre, from 50.6 last month.
The US CFTC's weekly commitments report showed non-commercial traders expanded their net long position in CBOT soybeans in the week to Oct. 4 by about 10,000 contracts, to 39,211 lots.
The CBOT reported 74 October soymeal deliveries and no new soyoil deliveries.
Malaysian palm oil futures declined for a second straight session, weighed down by higher September end-stocks and on a technical correction.
CBOT November soybeans last down 4 cents at $9.52-3/4 per bushel.