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334670

CBOT Trends-Wheat down 7-10 cents, corn down 2-3 cents, soybeans down 4-5 cents

CHICAGO, Oct 12 (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 Wednesday.

NOTE: Light-volume trade expected ahead of the release of the U.S. Agriculture Department's monthly World Agricultural Supply and Demand Estimates and Crop Production reports at 11 a.m. CDT (1600 GMT).

WHEAT - Down 7 to 10 cents per bushel

* Wheat easing on follow-through selling after dropping nearly 4% on Tuesday from the 3-1/2-month high it hit earlier in the week.

* Benchmark CBOT December soft red winter wheat contract hit resistance around its five-day and 100-day moving averages during the overnight trading session.

* CBOT December soft red winter wheat ended overnight trading down 9-3/4 cents at $8.91-1/4 a bushel. K.C. December hard red winter wheat dropped 6-3/4 cents to $9.84 a bushel, and MGEX December spring wheat fell 5 cents to $9.80-1/4 a bushel.

CORN - Down 2 to 3 cents per bushel

* Consolidation trade expected in corn ahead of USDA report, which is expected to show that the U.S. harvest will fall below previous forecasts.

* The ongoing harvest and signs of weakness in the cash market add pressure to futures.

* CBOT December corn rose above the high end of its 20-day Bollinger range overnight but failed to hold support above that key technical point.

* CBOT December corn futures were last down 2-3/4 cents at $6.90-1/4 per bushel.

SOYBEANS - Down 4 to 5 cents a bushel

* Soybean futures ease on worries about demand, harvest pressure.

* The government said on Tuesday afternoon that U.S. soybean harvest was 44% complete as of Oct. 9, ahead of the five-year average and 3 percentage points more than analysts were expecting.

* Private exporters reported the sale of 526,000 tonnes of soybeans to China for delivery in the 2022/23 marketing year, the U.S. Agriculture Department said.

* CBOT November soybeans last traded 4 cents lower at $13.72-1/4 a bushel. (Reporting by Mark Weinraub; editing by Jonathan Oatis)

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