CHICAGO: Following are U.S. 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 Tuesday.
Wheat down by 10-14 cents as profit-taking hits wheat after global supply concerns on Friday pushed the most-active contract to an 8-1/2-year high, traders said. Germany's farm cooperatives association estimated the country's crop at 22.39 million tonnes, down 1.8% from July but up 1.3% from last year. CBOT September soft red winter wheat was last 13-1/2 cents lower at $7.47 per bushel. K.C. September hard red winter wheat was last down 11-3/4 cents at $7.24-3/4 per bushel. MGEX September spring wheat dropped 14 cents to $9.28.
Corn down by 1-3 cents as South Dakota corn yield prospects are down from last year and the three-year average, according to the Pro Farmer Midwest Crop Tour. The four-day tour said Ohio yield prospects are above last year and the three-year average. The USDA, in a weekly report on Monday, cut its U.S. corn and soybean crop condition ratings while analysts expected no changes. Weaker oil prices set a negative tone for the corn market, traders said.
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