CBOT Trends-Wheat down 10-15 cents, corn down 4-8, soybeans down 15-20

CHICAGO, Jan 22 (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 - Down 10 to 15 cents per bushel

* Wheat lower for a fourth straight session on profit-taking and technical selling, and on spillover pressure from lower corn and soybeans.

* Most-active March futures dipped below technical chart support at its 20-day moving average in overnight trading. The contract is on pace for its largest weekly decline in nearly two months.

* The U.S. Department of Agriculture (USDA) said U.S. wheat export sales in the week ended Jan. 14 totaled 329,700 tonnes, near the low end of trade forecasts for 250,000 to 650,000 tonnes.

* CBOT March soft red winter wheat last traded down 12-3/4 cents at $6.48 per bushel. K.C. March hard red winter wheat fell 9-3/4 cents to $6.26 per bushel. MGEX March spring wheat was 10-3/4 cents lower at $6.24-1/2 per bushel.

CORN - Down 4 to 8 cents per bushel

* Corn lower for the fourth time in five sessions on improved rains in South America. Losses were limited by good demand and stronger-than-expected weekly export sales.

* Actively traded March corn is poised for its first weekly drop in seven weeks.

* The USDA said U.S. old-crop corn export sales last week totaled 1.438 million tonnes, above analysts' forecasts for 600,000 to 1.2 million tonnes.

* Argentine soy and corn planting sped forward over the last week, helped by rain that moistened fields parched by months of dry weather, the Buenos Aires Grains Exchange said on Thursday.

* CBOT March corn was last down 5 cents at $5.19-1/4 per bushel.

SOYBEANS - Down 15 to 20 cents per bushel

* Soybeans down for the fourth time in five sessions on fund and technical selling, and as improved South American crop weather eased concerns about a drought-shortened harvest. Strong demand and better-than-expected export sales limited declines.

* Actively traded March futures fell below technical chart support at its 20-day moving average during overnight trade. The contract is on track for the first weekly drop in seven weeks.

* The USDA said old-crop U.S. soybean export sales totaled 1.818 million tonnes in the week ended Jan. 14, above trade forecasts for 750,000 to 1.5 million tonnes. New-crop sales were 831,000 tonnes, also above forecasts that ranged from 350,000 to 600,000 tonnes.

* Additionally, the USDA on Friday morning reported private sales of 136,000 tonnes of U.S. soybeans to China for shipment in the 2020/21 season.

* CBOT March soybeans were last 16-3/4 cents lower at $13.53-1/2 per bushel. (Reporting by Karl Plume in Chicago; Editing by Susan Fenton)

© Copyright Thomson Reuters 2021. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about

Tip of the Day

Boots dry quickly

Boot dryer from AATF I nailed together 13×5×5-inch pieces of wood, drilled four holes into the top, and screwed in 1½-inch male adapters to accommodate 24-inch-... read more

Talk in Marketing