Soy up 12-15 cents, corn mixed, wheat steady-up 3 cents
- Benchmark soft red winter wheat futures firming on some concerns about crop health in parts of Midwest after cold snap late last week.
- Forecasts for rain in southern US Plains pressure hard red winter wheat while spring wheat supported by dry soils in northern US Plains.
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. CDT (1330 GMT) on Monday.
WHEAT - Steady to up 3 cents
Benchmark soft red winter wheat futures firming on some concerns about crop health in parts of Midwest after cold snap late last week.
Forecasts for rain in southern US Plains pressure hard red winter wheat while spring wheat supported by dry soils in northern US Plains.
Private exporters reported the sale of 130,000 tonnes of hard red winter wheat for delivery to unknown destinations in the 2021/22 marketing year.
CBOT May soft red winter wheat rose above its five-day moving average during the overnight trading session.
CBOT May soft red winter wheat was last up 2-1/2 cents at $6.13-1/2 per bushel. K.C. May hard red winter wheat was last down 1/2 cent at $5.64-1/2. MGEX May spring wheat was last up 1 cent at $6.00-1/2.
CORN - Mixed, Down 2 cents to up 6 cents
Corn futures seen mixed, nearby contracts called steady to slightly weaker on profit-taking after the most-active contract hit its highest in nearly eight years last week.
Deferred contracts firming on concerns about US production after US Agriculture Department report on Thursday showed that growers planned to seed less corn than the market was expecting.
Traders watching to see if most-active CBOT May corn can break through technical resistance at the high end of its 20-day Bollinger range.
CBOT May corn last traded down 1-1/2 cents at $5.58-1/4 per bushel. New-crop December corn was up 6-1/4 cents at $4.90-3/4 a bushel.
SOYBEANS - Up 12 to 15 cents
The USDA's planting forecast that called for fewer soybean acres than analysts were expecting continues to support the soy complex.
Technical support for benchmark CBOT May soybeans noted at their 40-day moving average overnight. The contract broke through its 20-day and 30-day moving averages.
CBOT May soybeans were last up 12-1/4 cents at $14.14-1/4 per bushel.
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