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CBOT Trends - Corn, wheat steady to up 2 cents; soybeans up 7-10 cents
CHICAGO, Sept 12 (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.
NOTE: The U.S. Agriculture Department's closely watched monthly World Agriculture Supply and Demand and Crop Production reports will be released at 11 a.m. CDT (1600 GMT).
WHEAT - Steady to up 2 cents per bushel
* Mild round of technical buying, short-covering expected in wheat market.
* USDA on Thursday morning said that weekly wheat export sales totaled 602,800 tonnes, just above analysts' estimates that ranged from 300,000 tonnes to 600,000 tonnes.
* Technical support for benchmark CBOT December SRW contract noted at 30-day moving average during overnight trading session.
* The CBOT reported 1 delivery against CBOT September wheat and three K.C. September wheat deliveries.
* CBOT December soft red winter wheat last traded up 1-1/4 cents at $4.78-3/4 a bushel.
* K.C. December hard red winter wheat was last unchanged at $3.98-1/2 a bushel. MGEX December spring wheat last traded 2 cents higher at $5.04-1/4 a bushel.
CORN - Steady to up 2 cents per bushel
* Position-squaring expected in corn as traders await monthly USDA reports. Latest weather outlooks, which calls for above-average temperatures next week, seen as beneficial for late development of Midwest crop, keeping strength in check.
* Benchmark CBOT December corn futures contract rose above 10-day moving average during overnight trading after dipping below that key technical point on Wednesday.
* Export sales of corn for the week ended Sept. 5 totaled 498,100 tonnes, near the low end of market expectations ranging from 450,000 tonnes to 950,000 tonnes.
* CBOT September corn deliveries totaled 132 contracts.
* CBOT December corn last traded 3/4 cent higher at $3.60-3/4 per bushel.
SOYBEANS - Up 7 cents to 10 cents per bushel
* Soybean futures rose to one-week high during overnight trading on signs of easing tensions in U.S.-China trade war ahead of scheduled talks between the two countries in October.
* Chinese companies have started to inquire about prices for U.S. agricultural goods purchases, Beijing said on Thursday.
* U.S. President Donald Trump on Wednesday welcomed China's decision to exempt some goods from its tariffs and announced a short delay to scheduled tariff hikes on billions worth of Chinese goods.
* Trump said in a tweet on Thursday morning that he expected China to "buy large amounts of our agricultural products."
* Soybean export sales totaled 1.172 million tonnes compared to trade expectations for 550,000 tonnes to 1.150 million tonnes.
* Traders watching to see if November soybean futures can remain break resistance at 40-day moving average. The contract rose above 30-day moving average after briefly falling below that level overnight.
* CBOT September soybean deliveries totaled 508 contracts. There were 96 deliveries against CBOT September soymeal and 45 deliveries against CBOT September soyoil.
* CBOT November soybeans last traded up 7-1/4 cents at $8.73-3/4 per bushel. (Reporting by Mark Weinraub; Editing by David Gregorio)
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