CBOT Trends-Soy up 17-20 cents, wheat up 12-15 cents, corn up 6-8 cents
CHICAGO, Sept 2 (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 Friday.
WHEAT - Up 12 to 15 cents per bushel
* Bargain buying, short-covering expected in wheat after most active contract posted its biggest daily loss since July 25 on Thursday.
* Flurry of activity on the export market eases concerns about weakening demand stemming from global economy woes.
* Benchmark CBOT December soft red winter wheat contract rose above its 20-day and 30-day moving averages during the overnight trading session.
* CBOT December soft red winter wheat futures last traded up 11 cents at $8.05-1/4 a bushel. K.C. December hard red winter wheat was last up 8-1/2 cents at $8.76-1/2 a bushel, and MGEX December spring wheat was last 9-1/4 cents higher at $8.95-3/4 a bushel.
CORN - Up 6 to 8 cents per bushel
* Corn firming on spillover strength in financial markets, rising expectations that U.S. harvest will fall below U.S. Agriculture Department forecast.
* Brokerage StoneX on Thursday afternoon estimated that U.S. corn production will total 14.168 billion bushels, based on an average yield of 173.2 bushels per acre. Both were below StoneX's previous forecast and the mid-August government outlook.
* CBOT December corn rose above its 10-day moving average overnight.
* CBOT December corn futures gained 6-3/4 cents to $6.64-3/4 per bushel overnight.
SOYBEANS - Up 17 to 20 cents per bushel
* Rebound expected in soybeans after four straight days of declines.
* Benchmark CBOT November soybean futures contract rose above its 40-day and 50-day moving averages overnight but hit resistance at its 200-day moving average.
* CBOT November soybeans were last 18-1/2 cents higher at $14.13-1/4 a bushel. (Reporting by Mark Weinraub; editing by Jonathan Oatis)
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