CBOT Trends - Soybeans up 2-5 cents; corn, wheat up 0-2 cents
CHICAGO, Feb 12 (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. CST (1430 GMT) on Friday.
WHEAT - Even to up 2 cents per bushel
* The CBOT's most-active soft red winter wheat contract inched higher overnight after falling for a third session on Thursday, hovering near its 50-day moving average.
* The most-active March wheat contract is poised for a third weekly move downward in the last four weeks, since reaching 6-1/2 year highs the week ended Jan. 15.
* The Central and Southern U.S. Plains are expected to see increased snowfall over the weekend which should protect dormant winter wheat crops, though some winterkill is still a concern for parts of Colorado and Kansas, according to Commodity Weather Group.
* CBOT March soft red winter wheat last traded up 1/4 cent at $6.33-3/4 per bushel. K.C. March hard red winter wheat was last 4-3/4 cents higher at $6.15-3/4 per bushel. MGEX March spring wheat gained 1-1/4 cents to $6.17-1/4 per bushel.
CORN - Even to up 2 cents per bushel
* The corn market moved slightly higher overnight, finding support near it's 20-day moving average after a two-day plummet on bigger-than-expected U.S. corn stocks estimates from the USDA Tuesday.
* Despite notching new 7-1/2 year highs Tuesday, CBOT's most-active March corn contract will need to climb above $5.48-1/2 to finish the week in positive territory.
* Exporters sold 115,577 tonnes of corn for delivery to Guatemala and 135,644 tonnes for delivery to Costa Rica during the 2020/2021 marketing year, as well as 59,694 tonnes to Costa Rica for the 2021/22 marketing year, according to the U.S. Department of Agriculture.
* The Mexican government's plan to stop importing genetically modified (GMO) corn as well as the widely-used herbicide glyphosate will likely face legal challenges this month to reverse the proposal, according to the new head of Mexico's top farm lobby.
* CBOT March corn was 1-1/4 cent higher at $5.42-1/4 per bushel.
SOYBEANS - Up 2 to 5 cents per bushel
* CBOT soybeans crept higher for a second session after a steep drop earlier in the week, with the most-active contract hovering near its 20-day moving average.
* The most-active soybean contract swung 72-1/4 cents from its high of $14.09-1/2 per bushel on Tuesday to its Thursday low of $13.37-1/4 per bushel, but is currently on track to end the week nearly unchanged.
* United States soybean processing plants in January were estimated to have crushed 183.087 million bushels of soybeans, according to the average of estimates from nine analysts.
* CBOT March soybeans were last 2-1/2 cents higher at $13.70 per bushel. (Reporting by Christopher Walljasper; Editing by Kirsten Donovan)
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