CBOT Trends - Soy up 6-7 cents, wheat down 1-3 cents, corn steady-down 2 cents
CHICAGO, Sept 16 (Reuters) - Following are U.S. trade expectations for the opening 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 1 cent to 3 cents per bushel
* Follow-through technical selling expected in wheat after most active contract dropped 1.4% on Tuesday, its biggest daily drop since Aug. 6.
* Benchmark CBOT December soft red winter wheat found support at its 50-day moving average during the overnight trading session.
* The CBOT reported no deliveries against Chicago September soft red winter wheat futures or K.C. September hard red winter wheat.
* CBOT December soft red winter wheat last traded down 2-3/4 cents at $5.35-1/2 per bushel. K.C. December hard red winter wheat was last 1-1/4 cents lower at $4.66-3/4 a bushel. MGEX December spring wheat was last down 1/2 cent at $5.23-3/4 a bushel.
CORN - Steady to down 2 cents per bushel
* Seasonal harvest pressure hangs over corn market, but technical buying pulled market from lows overnight after benchmark CBOT December contract fell below its 10-day moving average. Strength in soybeans also supportive.
* The CBOT reported one delivery against September corn futures.
* CBOT December corn last traded down 1/2 cent at $3.65-1/2 per bushel.
SOYBEANS - Up 6 cents to 7 cents per bushel
* Some bargain buying expected in soybean following most-active contract's biggest decline since Aug. 20 on Tuesday. Market also receiving support from concerns about stocks tightening due to smaller-than-expected U.S. yields and strong export demand.
* Private exporters reported the sale of 327,000 tonnes of soybeans for delivery to China during the 2020/2021 marketing year, the U.S. Agriculture Department said.
* The CBOT reported no deliveries against CBOT September soybean futures, September soymeal or September soyoil.
* CBOT November soybeans last traded up 6-1/4 cents at $9.97-3/4 per bushel. (Reporting by Mark Weinraub; editing by Jonathan Oatis)
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