CBOT Trends-Soy down 9-11 cents, wheat down 6-7 cents, corn down 3-4 cents
CHICAGO, Oct 5 (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 Wednesday.
WHEAT - Down 6 to 7 cents per bushel
* Wheat eases overnight, pressured by a stronger U.S. Dollar that could negatively affect U.S. exports.
* In Egypt, the price of wheat and flour used to make unsubsidized bread has spiked as importers struggle to pay for wheat stuck at ports amid a dollar shortage, traders and the country's chamber of cereals told Reuters.
* CBOT December soft red winter wheat last trimmed 6-1/4 cents to $8.96-3/4 a bushel. K.C. December hard red winter wheat eased 7-1/4 cents to $9.81-1/2 a bushel, and MGEX December spring wheat last dipped 7-3/4 cents to $9.68-1/2 a bushel.
CORN - Down 3 to 4 cents per bushel
* Corn trades lower overnight, as harvest pressure weighs on the market after three days of firmer trade.
* Commodity brokerage StoneX lowered its estimate of U.S. 2022 corn production to 14.056 billion bushels, down from 14.168 billion in its Sept. 1 monthly report. The firm increased its 2022 yield estimate to 173.9 bushels per acre, up from 173.2 last month.
* Brazil's October corn exports could reach 4.208 million tonnes, according to grains exporter association ANEC, up from 1.873 million tonnes the same month last year.
* China's corn production for the 2022/23 marketing year is forecast at 270 million tonnes, according to the U.S. Department of Agriculture's Foreign Agricultural Service attache in Beijing, down 4 million tonnes from the USDA's official forecast and 2.5 million tonnes lower than the 2021/22 marketing year, due to lower planting area and yield losses caused by excessive rains in the northeast.
* CBOT December corn futures last slipped 3-3/4 cents to $6.79-1/4 per bushel.
SOYBEANS - Down 9 to 11 cents a bushel
* Soybeans dip overnight after two sessions higher, weighed down by advancing harvest across the U.S. Midwest and wider economic uncertainty.
* Commodity brokerage StoneX lowered its estimate of U.S. 2022 soybean production to 4.442 billion bushels, down from 4.515 billion in its Sept. 1 monthly report. The firm lowered its 2022 yield estimate to 51.3 bushels per acre, down from 51.8 last month.
* Brazil's October soybean exports could reach 3.110 million tonnes, according to grains exporter association ANEC, up from 2.985 million tonnes the same month last year. The South American nation could export 1.804 million tonnes of soymeal this month, up from 1.337 million tonnes in October 2021.
* CBOT November soybeans last traded down 10-1/2 cents at $13.73 a bushel. (Reporting by Christopher Walljasper in Chicago; editing by Jonathan Oatis)
© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp