CHICAGO: 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. CDT (1330 GMT) on Tuesday.
WHEAT - Down 2 to 3 cents per bushel
Wheat lower, following weakness in soybeans and corn along with seasonal pressure from the ongoing US winter wheat harvest.
The US Department of Agriculture (USDA) late Monday rated 76pc of the US spring wheat crop in good to excellent condition, down from 78pc a week earlier, while analysts on average had expected no change.
The USDA said the US winter wheat harvest was 57pc complete, up from 47pc a week earlier but well behind the five-year average of 71pc.
Russia's Grain Union said it expected wheat exports for the 2019/2020 marketing season between 37 million and 38 million tonnes and said they could potentially rise to 40 million tonnes.
CBOT September soft red winter wheat last traded down 2 cents at $5.05-3/4 a bushel. K.C. September hard red winter wheat was last down 2-1/2 cents at $4.46-1/2 a bushel while MGEX September spring wheat was last up 1/4 cent at $5.32-3/4 a bushel.
CORN - Down 5 to 7 cents per bushel
Corn heads lower on follow-through selling after Monday's weak close, pressured by better-than-expected US crop condition ratings and forecasts for this week's Midwest hot spell to ease next week.
The USDA late Monday rated 58pc of the US corn crop in good to excellent condition, up from 57pc a week earlier, bucking analyst expectations for a slight decline in ratings.
CBOT December corn futures last traded down 7-1/4 cents at $4.33-3/4 a bushel.
SOYBEANS - Down 9 to 10 cents per bushel
Soybeans head lower on carry-over selling after Monday's weak technical close and better-than-expected weekly USDA crop condition ratings. Additional pressure from forecasts for this week's heat in the US Midwest to moderate next week.
The USDA late Monday rated 54pc of the US soybean crop in good to excellent condition, up from 53pc a week earlier, while analysts on average had expected no change.
CBOT August soybeans last traded down 10 cents at $8.91-3/4 a bushel and new-crop November was last down 10-3/4 cents at $9.09-1/4 a bushel.
Comments
Comments are closed.