Benchmark CBOT May soft red winter wheat rose above its 100-day moving average for the first time since March 24 during the overnight trading session. Technical resistance was noted at the contract's 30-day moving average.
CBOT May soft red winter wheat was last up 5-1/2 cents at $6.34-1/4 per bushel. K.C. May hard red winter wheat was last up 5-3/4 cents at $5.82-1/4.
Analysts expect the USDA's March 31 planting intentions report to show an expansion in US plantings of corn and soybeans compared to last year, while March 1 soybean stocks are expected to be down 32% from a year earlier.