CBOT Trends - Soy up 18-22 cents, corn up 2-4, wheat steady-down 1
CHICAGO, Feb 23 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) 8:30 a.m. CST (1430 GMT) on Tuesday.
NOTE: First notice day for deliveries against CBOT March futures contracts is Friday.
WHEAT - Steady to down 1 cent per bushel
* Wheat lower on technical selling but futures pared losses ahead of the daily pause in trade as soybeans and corn advanced.
* Condition ratings for winter wheat declined during February in Kansas, the top U.S. winter wheat producer, but monthly ratings were mixed in other Plains states, the U.S. Department of Agriculture said on Monday.
* CBOT May soft red winter wheat last traded down 1-1/4 cents at $6.68-1/2 per bushel. K.C. May hard red winter wheat was last down 3-1/4 cents at $6.47-3/4 a bushel. MGEX May spring wheat was last down 2-3/4 at $6.47 a bushel.
CORN - Up 2 to 4 cents per bushel
* Corn higher on spillover strength from soy, demand for U.S. 2021 acres and tightening U.S. corn supplies.
* Life-of-contract highs set in deferred contracts months, including new-crop December corn at $4.74 a bushel.
* CBOT May corn was last up 3-3/4 cents at $5.54-1/4 per bushel, with new-crop December last up 2-1/4 cents at $4.72.
SOYBEANS - Up 18 to 22 cents per bushel
* Soybeans climb on harvest delays in South America that could steer export buyers to dwindling U.S. supplies. Technical buying lends support as back months, including new-crop November soybeans, climb to life-of-contract highs.
* Consultancy AgRural said on Monday that farmers in Brazil had harvested just 15% of their soybeans as of last Thursday, the slowest pace in 10 years.
* However, another firm, Agroconsult, raised its estimate of Brazil's 2020/21 soybean harvest to 134 million tonnes, from 132.4 million previously.
* CBOT May soybeans were last up 21-1/4 cents at $14.08-3/4 per bushel, with new-crop November last up 11-3/4 cents at $12.23-1/2. (Reporting by Julie Ingwersen)
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