CHICAGO: Following are US 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 Thursday:
WHEAT - Even to up 2 cents per bushel
Wheat futures are close to even heading into the holiday trade as possible export issues in Argentina continue due to a prolonged worker strike, offering the possibility of greater US wheat exports.
The most-active CBOT March wheat futures contract touched the high end of its 20-day Bollinger range during overnight trading.
Overnight, CBOT March wheat reached $6.33-3/4 cents per Bushel, its highest since October 23.
CBOT March soft red winter wheat last traded 1/2 cent higher at $6.30-1/4 per bushel. K.C. March hard red winter wheat was last up 1/4 cent at $5.87-3/4 per bushel. MGEX March spring wheat was last 1-1/2 cents higher at $5.81-1/2 per bushel.
CORN - Even to up 2 cents per bushel
Corn stagnates after 9 days of gains, as profit-taking ahead of the holiday and South American precipitation weigh on the market.
The most-active CBOT March corn futures contract sat at the high end of its 20-day Bollinger range during overnight trading.
CBOT March corn was last unchanged at $4.47-1/2 per bushel.
SOYBEANS - Up 9 to 11 cents per bushel
Soybean futures rally for a sixth consecutive session as supply issues in Argentina continue to depress the global supply outlook amid strong demand.
Overnight, the most-active March soybean futures on the Chicago Board Of Trade reached $12.75 per bushel, the highest for a most-active soybean contract since June 23, 2014.
Argentine oilseed workers and grains inspectors on Wednesday said they will spend Christmas on strike, further hampering agricultural exports in a two-week-old labour dispute.
Argentina's 2020/21 soybean planting area could turn be smaller than expected due to prolonged dry weather, according to the Buenos Aires Grains Exchange.
CBOT January soybeans last traded up 9 cents at $12.67-3/4 per bushel, while March soybeans gained 8-3/4 cents to 12.68-3/4 per bushel.