CBOT Trends-Wheat up 10-14 cents, corn up 3-4 cents, soy down 5-6 cents
CHICAGO, Sept 20 (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 Tuesday.
WHEAT - Up 10 to 14 cents per bushel
* Bargain buying, short-covering expected in wheat after most-active contract sank 3.4% to its lowest in more than a week on Monday.
* Concerns about weak export demand for U.S. supplies to keep gains in check.
* Benchmark CBOT December soft red winter wheat futures contract rose above its 10-day moving average during the overnight trading session.
* CBOT December soft red winter wheat futures last traded 13-1/2 cents higher at $8.44 a bushel. K.C. December hard red winter wheat gained 11-1/2 cents to $9.21-1/4 a bushel, and MGEX December spring wheat was up 6-3/4 cents at $9.25 a bushel.
CORN - Up 3 to 4 cents per bushel
* Corn firm, supported by a U.S. Agriculture Department report on Monday afternoon that harvest was progressing slower than expected.
* Follow-through buying expected in corn after most-active contract closed higher on Monday after trading in negative territory for much of the session.
* USDA report showed that corn harvest was 7% complete, 1 percentage point behind the five-year average. Analysts had been expecting the report to show that harvest was 10% complete.
* CBOT December corn futures were last up 3-1/2 cents at $6.81-3/4 per bushel.
SOYBEANS - Down 5 to 6 cents per bushel
* Weakness in cash market, seasonal harvest pressure weigh on soybean futures.
* USDA said that soybean harvest was 3% complete compared with market expectations for 5%.
* CBOT November soybeans last traded 6-1/4 cents lower at $14.55 a bushel. (Reporting by Mark Weinraub; editing by Jonathan Oatis)
© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp