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CBOT Trends - Corn, soybeans up 4-6 cents; wheat up 8-10 cents
CHICAGO, May 16 (Reuters) - Following are U.S. 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 Thursday.
WHEAT - Up 8 to 10 cents per bushel
* Strength in corn supported wheat futures. Traders also note round of short-covering.
* Benchmark CBOT July soft red winter wheat contract broke through 30-day, 40-day and 50-day moving averages as well as high end of the 20-day Bollinger range during overnight trading.
* Traders watching to see if CBOT July soft red winter wheat contract can break through Wednesday's high of $4.64 a bushel.
* U.S. Agriculture Department report on Thursday morning showed weekly export sales of wheat totaled 533,800 tonnes. Analysts forecast wheat export sales in a range from 150,000 to 600,000 tonnes.
* CBOT July wheat last traded up 9-1/2 cents at $4.58-1/4 per bushel. K.C. July hard red winter wheat was 8-1/2 cents higher at $4.10-1/2, and MGEX July spring wheat rose 7-3/4 cents at $5.23.
CORN - Up 4 to 6 cents per bushel
* Corn rallying on the forecast for rain next week in the U.S. Midwest, which raises questions about whether farmers will be able to reach their acreage targets for the year.
* Weekly corn export sales of 634,100 tonnes were in line with forecasts for 300,000 to 900,000 tonnes.
* Benchmark CBOT July corn futures rose above 40-day and 50-day moving averages during overnight trading. The contract briefly topped the high end of its 20-day Bollinger range but ended the overnight session below that level.
* CBOT July corn last traded up 5-3/4 cents at $3.75-1/4 per bushel.
SOYBEANS - Up 4 to 6 cents per bushel
* Short-covering is supportive to soybeans but concerns about exports to top buyer China due to trade war to keep strength in check.
* USDA reported weekly soybean export sales of 674,300 tonnes. Analysts' forecasts for the weekly total ranged from 300,000 to 1 million tonnes.
* CBOT July soybeans last traded up 5 cents at $8.40-1/2 per bushel. (Reporting by Mark Weinraub; Editing by Jeffrey Benkoe)
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