Content ID

333009

CBOT Trends-Soybeans down 25-30 cents, wheat down 12-15 cents, corn down 10-12 cents

CHICAGO, Aug 30 (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 Tuesday.

WHEAT - Down 12 to 15 cents per bushel

* Profit-taking seen pressuring wheat market after most-active Chicago Board of Trade soft red winter wheat contract posted gains in six of the previous seven sessions.

* Benchmark CBOT December soft red winter wheat contract dropped below its 50-day moving average during the overnight trading session. The contract briefly topped the high end of its 20-day Bollinger range but failed to hold support above that key technical point.

* CBOT December soft red winter wheat futures last traded down 14 cents at $8.28-3/4 a bushel. K.C. December hard red winter wheat was last off 14 cents at $8.98-1/2 a bushel, and MGEX December spring wheat was last 16 cents lower at $9.17-1/4 a bushel.

CORN - Down 10 to 12 cents per bushel

* Corn seen retreating from two-month high on round of profit-taking.

* Benchmark December corn dropped below its 100-day moving average and the high end of its 20-day Bollinger range overnight.

* CBOT December corn futures were 11-1/2 cents lower at $6.71-1/2 per bushel.

SOYBEANS - Down 25 to 30 cents per bushel

* Soybeans seen lower for the fourth time in five sessions after U.S. Agriculture Department report showed good-to-excellent ratings for the U.S. crop held steady at 57%, beating forecasts for a decline of 1 percentage point.

* Rain in key growing areas of the U.S. Midwest, which will aid soybeans through their final stages of development, adds pressure.

* Benchmark CBOT November soybean futures contract dropped below its 10-day and 20-day moving averages.

* Private exporters reported the sale of 264,000 tonnes of soybeans to unknown destinations for delivery in the 2022/23 marketing year, the USDA said on Tuesday.

* CBOT November soybeans were last down 26 cents at $14.11-3/4 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