Content ID

333049

CBOT Trends-Soybeans down 14-20 cents, corn down 10-12 cents, wheat down 8-10 cents

CHICAGO, Aug 31 (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 8 to 10 cents per bushel

* Wheat seen easing as traders shed risky assets amid concerns about slowing global economy.

* Consolidation trade for benchmark CBOT December soft red winter wheat contract noted around its five-day and 40-day moving averages overnight.

* CBOT December soft red winter wheat futures last traded down 8-1/2 cents at $8.11-3/4 a bushel. K.C. December hard red winter wheat was last off 10-1/2 cents at $8.87-1/4 a bushel, and MGEX December spring wheat was last 10-3/4 cents lower at $9.09-3/4 a bushel.

CORN - Down 10 to 12 cents per bushel

* Corn weakening on fund selling and concerns that global economic weakness will cut into demand on the export front.

* Benchmark December corn dropped below its 100-day moving average overnight.

* CBOT December corn futures were down 12 cents at $6.65-1/4 per bushel.

SOYBEANS - Down 14 to 20 cents per bushel

* Expectations for massive U.S. crop continue to pressure soybean market, which was seen weaker for the fifth time in the last six sessions.

* Falling crude oil adds pressure to the soy complex.

* Benchmark CBOT November soybean futures contract fell below its 20-day moving averages.

* Private exporters reported the sale of 167,000 tonnes of soybeans for delivery to China during the 2022/23 marketing year, the U.S. Agriculture Department said.

* CBOT November soybeans were last 14 cents lower at $14.18-1/2 a bushel. (Reporting by Mark Weinraub Editing by Tomasz Janowski)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Talk in Marketing