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 Wednesday.
NOTE: CBOT grain markets will be closed on Thursday for the US Independence Day holiday. Most grains and oilseed contracts end trading at 12:05 p.m. CDT (1705 GMT) on Wednesday.
WHEAT - Up 4 cents to 6 cents per bushel
Bargain buying, short-covering expected to support wheat futures after three straight days of declines pushed most-active contract to lowest since June 10.
Concerns about quality of winter wheat crop being harvested in the United States following wet spring also supportive to wheat market.
Benchmark CBOT September soft red winter wheat contract broke through 40-day moving average during overnight trading session.
CBOT September soft red winter wheat last traded up 4 cents at $5.07-1/4 a bushel. K.C. September hard red winter wheat was last up 4-3/4 cents at $4.37-1/4 and MGEX September spring wheat was down 1/2 cent at $5.35-3/4.
CORN - Up 5 cents to 7 cents per bushel
Technical buying expected after market held support at Friday's low on Monday and Tuesday. Thin trading expected ahead of US holiday.
CBOT December corn futures broke through 40-day moving average overnight.
CBOT December corn last traded up 5-1/4 cents at $4.31-1/4 a bushel.
SOYBEANS - Up 6 cents to 8 cents per bushel
Bargain buying seen supporting soybean market. Most-active contract has fallen for five of the past six trading sessions.
Soy also supported by hopes that China will book some deals for US soybeans as part of trade negotiations with the United States.
Benchmark CBOT November soybean futures contract faced resistance at 30-day moving average overnight.
CBOT November soybeans last traded up 6-1/4 cents at $9.05 per bushel.
Comments
Comments are closed.