Content ID

332144

CBOT Trends-Wheat down 7-10 cents, soy down 5-10 cents, corn steady-2 cents lower

CHICAGO, Aug 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 Friday.

Note: Muted trade expected in corn, soybeans and wheat ahead of release of U.S. Department of Agriculture's World Agricultural and Supply and Demand Estimates and Crop Production reports at 11 a.m. CDT (1600 GMT).

WHEAT - Down 7 to 10 cents per bushel

* Wheat futures easing as traders square positions following four straight days of gains that pushed the most-active contract up 4.5%.

* CBOT September soft red winter wheat futures last traded 7-1/4 cents lower at $8.03-1/2 a bushel. K.C. September hard red winter wheat was last down 10 cents at $8.79-1/4 a bushel, and MGEX September spring wheat was last 9-1/2 cents lower at $9.12-1/4.

CORN - Steady to down 2 cents per bushel

* Corn futures steadying ahead of USDA report after hitting two-week high overnight.

* Brazil's CONAB estimated the country's 2021/22 corn crop at 114.691 million tonnes, down from its previous estimate of 115.663 million.

* CBOT December corn futures were 1/2 cent lower at $6.27-1/4.

SOYBEANS - Down 5 to 10 cents per bushel

* Mild round of profit-taking expected in early trade following rallies in two of three previous sessions. Losses kept in check by concerns about forecast for more dry weather in western U.S. Midwest, where crops have been stressed throughout the summer.

* Brazil's CONAB estimated the country's 2021/22 soybean crop at 124.048 million tonnes, unchanged from previous outlook.

* CBOT November soybeans were last 5-1/4 cents lower at $14.43-1/4 a bushel. (Reporting by Mark Weinraub Editing by Mark Potter)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Talk in Marketing