CBOT Trends-Corn up 7-11 cents; wheat up 2-4 cents; soy down 7-9 cents
CHICAGO, Aug 29 (Reuters) - Following are U.S. trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.
WHEAT - Up 2 to 4 cents per bushel
* Wheat firming on spillover strength from gains in corn futures.
* Benchmark CBOT December soft red winter wheat contract dropped below its 30-day moving average during the overnight trading session.
* CBOT December soft red winter wheat futures last traded up 3 cents at $8.08-1/4 a bushel. K.C. December hard red winter wheat was last up 1-1/4 cents at $8.83-1/2 a bushel, and MGEX December spring wheat was last 3/4 cents higher at $9.10-1/4 a bushel.
CORN - Up 7 to 11 cents per bushel
* Corn seen rising for the eighth time in the last nine sessions, supported by expectations for harvest shortfalls in the U.S. Midwest after a hot and dry summer.
* On a continuous basis, the most-active CBOT corn contract hit its highest since June 27 overnight.
* Traders watching to see if benchmark December corn contract can break through resistance at its 100-day moving average for the first time since June 23.
* CBOT December corn futures were up 10-1/4 cents at $6.74-1/2 per bushel.
SOYBEANS - Down 7 to 9 cents per bushel
* Soybeans fading after better-than-expected rains across the U.S. Midwest during the weekend bolstered expectations for a record harvest.
* Market also under pressure from Pro Farmer's forecast for a U.S. soybean crop of 4.535 billion bushels, bigger than the U.S. Agriculture Department's most recent outlook.
* CBOT November soybeans were last down 8-1/4 cents at $14.53 a bushel. (Reporting by Mark Weinraub; editing by Barbara Lewis)
© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp