Content ID

333931

CBOT Trends-Soybeans down 17-20 cents, wheat down 15-20 cents, corn down 13-15 cents

CHICAGO, Sept 23 (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 - Down 15 to 20 cents per bushel

* Strong dollar pressures wheat futures as investors shed risky assets to shield themselves against sharp declines in traditionally volatile markets.

* CBOT December soft red winter wheat futures last traded 18-3/4 cents lower at $8.92 a bushel. K.C. December hard red winter wheat lost 14 cents to $9.65-1/2 a bushel and MGEX December spring wheat was down 14-1/4 cents at $9.63-1/2 a bushel.

CORN - Down 13 to 15 cents per bushel

* Corn falling despite reports of lower-than-expected yields in early harvested areas of the Midwest as traders focused on the U.S. Federal Reserve's decision to raise interest rates on Thursday, which raised concerns about global demand for corn amid the potential for a slowing economy.

* CBOT December corn, the most-actively traded contract, fell below its 10-day and 20-day moving averages overnight.

* CBOT December corn futures were last down 14 cents at $6.74-1/4 per bushel.

SOYBEANS - Down 17 to 20 cents per bushel

* Soybeans seen lower for the third straight day, with Thursday's disappointing export sales report continuing to weigh on the market.

* Falling crude oil prices and concerns about weakening global economy cutting demand for soybeans added pressure.

* CBOT November soybeans dropped below their 100-day moving average overnight. Technical support was noted around the contract's 20-day moving average.

* CBOT November soybeans last traded 18-1/2 cents lower at $14.38-1/2 a bushel. (Reporting by Mark Weinraub; Editing by Paul Simao)

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

Read more about
Loading...

Talk in Marketing