Soya up 1-3 cents, corn steady-up 2 cents, wheat down 1-4 cents

26 Jan, 2019

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. CST (1430 GMT) on Friday.
WHEAT - Down 1 to 4 cents per bushel
Follow-through selling expected after CBOT soft red winter wheat retreated from five-week high it hit during Thursday's session. Traders waiting for confirmation of export deals for US wheat before pushing prices higher despite persistent talk of supply shortfalls in Black Sea countries.
Technical support for benchmark CBOT March contract noted at 50-day moving average during overnight trading.
CBOT March wheat last traded 1-3/4 cents lower at $5.19-3/4 per bushel. K.C. March hard red winter wheat was down 2 cents at $5.09-1/2 a bushel and MGEX March spring wheat dipped 3/4 cent to $5.75-1/2.
CORN - Steady to up 2 cents per bushel
Rangebound trade expected. Market underpinned by ideas that US harvest was smaller than expected in 2018 but lack of government data due to government shutdown keeps traders in dark about actual size of crop.
CBOT March corn traded up 1 cent at $3.78 per bushel.
SOYBEANS - Up 1 to 3 cents per bushel
Concerns about dry conditions in Brazil limiting crop production there support soybean market. Gains capped by trade fight with China.

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