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CBOT Trends - Wheat up 2-4 cents, corn steady-up 2 cents, soybeans down 7-10 cents
CHICAGO, May 23 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday.
WHEAT - Up 2 cents to 4 cents per bushel
* Short-covering supportive to wheat market.
* Benchmark CBOT July soft red winter wheat futures rose above five-day moving average during overnight trading session. Resistance was noted near Wednesday's high of $4.81 a bushel.
* U.S. Agriculture Department said export sales of wheat totaled 393,300 tonnes in week ended May 16. Analysts forecasts had ranged from zero to 700,000 tonnes.
* CBOT July wheat last traded up 3-1/4 cents at $4.76 per bushel. K.C. July hard red winter wheat was 1-1/4 cents higher at $4.33-1/2, and MGEX July spring wheat gained 2 cents to $5.45-3/4.
CORN - Steady to up 2 cents per bushel
* Corn receiving support from outlooks for more rain in the U.S. Midwest that will further delay corn planting that was already well behind schedule. Profit-taking expected to keep gain in check.
* Benchmark CBOT July corn futures hit resistance at high end of 20-day Bollinger range overnight.
* Weekly corn export sales were 625,900 tonnes, in line with forecasts for 250,000 tonnes to 1.05 million tonnes.
* CBOT July corn last traded up 1/4 cent at $3.94-3/4 per bushel.
SOYBEANS - Down 7 to 10 cents per bushel
* Soybeans easing on concerns about trade with China, expectations for boost in plantings as farmers switch acres intended for corn to soybeans due to weather delays.
* Benchmark CBOT July soybean futures fell below 10-day moving average. Traders watching to see if contract can hold support at $8.19 a bushel, which was the session low on Tuesday and Wednesday.
* Soybean export sales totaled 541,000 tonnes in the latest reporting week, in line with forecasts for 100,000 tonnes to 800,000 tonnes.
* CBOT July soybeans last traded down 8 cents at $8.20-1/2 per bushel. (Reporting by Mark Weinraub)
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