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CBOT Trends - Wheat down 5-10 cents; corn, soy down 1-3 cents
CHICAGO, May 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. CDT (1330 GMT) on Friday.
WHEAT - Down 5 cents to 10 cents bushel
* Wheat falling on risk-off trading ahead of three-day weekend. Grain markets will be closed on Monday for the U.S. Memorial Day holiday.
* The benchmark CBOT July soft red winter wheat contract dropped below its 20-day moving average during overnight trading.
* Crop scouts who conducted a three-day tour of hard red winter wheat fields in Kansas estimated the state's 2020 crop at 284.4 million bushels, below the USDA's projection of 305.5 million bushels.
* CBOT July soft red winter wheat last traded down 8-3/4 cents at $5.07-1/4 per bushel. K.C. July hard red winter wheat was last 5-1/4 cents lower at $4.49-1/4 and MGEX July spring wheat was last down 4-1/2 cents at $5.13-1/2.
CORN - Down 1 cent to 3 cents per bushel
* Corn seen lower for the third day in a row, pressured by forecasts for warm and wet weather that will benefit crop development in the U.S. Midwest.
* CBOT July corn last traded down 1-1/4 cent at $3.16-1/2 per bushel.
SOYBEANS - Down 1 cent to 3 cents per bushel
* Soybeans weakening on rising tensions between the United States and China that traders fear could hurt prospects for U.S. agricultural exports.
* On a continuous basis, the most-active soybean futures contract hit its lowest since April 21 during the overnight trading session.
* CBOT July soybeans last traded down 1-1/2 cents at $8.33-1/2 per bushel. (Reporting by Mark Weinraub; Editing by Steve Orlofsky)
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