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334147

CBOT Trends-Soy up 5-8 cents, corn up 2-3 cents, wheat steady-up 2 cents

CHICAGO, Sept 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 Thursday.

WHEAT - Steady to up 2 cents per bushel

* Wheat market seen consolidating after most-active soft red winter wheat contract rallied 5.3% over the previous two sessions. Market underpinned by concerns of escalating tensions in conflict between key Black Sea exporters Russia and Ukraine.

* The U.S. Agriculture Department said that export sales of wheat in the week ended Sept. 22 totaled 250,100 tonnes. That was in line with trade forecasts that ranged from 175,000 to 500,000 tonnes.

* CBOT December soft red winter wheat ended the overnight trading session 1 cent higher at $9.04-1/4 a bushel. K.C. December hard red winter wheat gained 1/2 cent to $9.76-1/2 a bushel, and MGEX December spring wheat fell 2-1/2 cents to $9.70 a bushel.

CORN - Up 2 to 3 cents per bushel

* Range-bound trade expected in corn as traders wait for yield reports from U.S. Midwest harvest.

* Weekly corn export sales totaled 672,100 tonnes, USDA said. Trade expectations ranged from 250,000 to 800,000 tonnes.

* Benchmark December corn contract faced technical resistance overnight near its 10-day and 20-day moving averages.

* CBOT December corn futures were last up 2 cents at $6.72-1/2 per bushel.

SOYBEANS - Up 5 to 8 cents a bushel

* Technical follow-through buying expected in soybeans after prices managed to close firm on Wednesday after sinking to their lowest in nearly three weeks during the session.

* CBOT November soybeans failed to hold support above their 50-day moving average overnight.

* USDA said soybean export sales totaled 973,000 tonnes, topping market forecasts for 250,000 to 850,000 tonnes.

* CBOT November soybeans last traded 5-1/2 cents higher at $14.14-1/4 a bushel. (Reporting by Mark Weinraub; editing by Kirsten Donovan)

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