You are here
CBOT Trends - Soybeans up 4-6 cents; wheat, corn steady-up 2 cents
CHICAGO, Oct 21 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Monday.
WHEAT - Steady to up 2 cents per bushel
* Concerns about production shortfalls in Australia and Argentina, combined with strong demand from global importers, support wheat prices. Most-active wheat futures contract hit highest since June 28 during the overnight trading session.
* Benchmark CBOT December soft red winter wheat contract rose above its 20-day Bollinger range overnight.
* CBOT December soft red winter wheat last traded up 1 cent at $5.33-1/4 per bushel. K.C. December hard red winter wheat was last up 1-1/2 cents at $4.35-1/4, and MGEX December spring wheat was last down 1/4 cent at $5.44-1/4.
CORN - Steady to up 2 cents per bushel
* Gains in soybeans, wheat supportive to corn. Weak demand for the yellow grain weighs on futures.
* CBOT December corn contract struggled to stay above the 10-day moving average overnight. Technical support noted at 20-day moving average.
* CBOT December corn last traded up 1 cent at $3.92 per bushel.
SOYBEANS - UP 4 cents to 6 cents per bushel
* Soy futures boosted by slow pace of harvest in U.S. Midwest as well as concerns that recent snowstorm and freezing temperatures in harvest pace damaged the crop in that area.
* The benchmark CBOT November soybean futures contract broke through its 10-day moving average overnight.
* CBOT November soybeans last traded up 4 cents at $9.38 per bushel. (Reporting by Mark Weinraub; Editing by David Gregorio)
© Copyright Thomson Reuters 2019. Click For Restrictions - http://about.reuters.com/fulllegal.asp