CBOT Trends - Wheat up 5-7 cents; corn, soybeans down 2-4 cents
CHICAGO, March 2 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) 8:30 a.m. CST (1430 GMT) on Tuesday.
WHEAT - Up 5 to 7 cents per bushel
* Wheat futures rebounding from three straight days of declines, supported by deteriorating crop conditions in the U.S. Plains.
* The U.S. Agriculture Department lowered its good-to-excellent ratings for wheat in Kansas, Texas and Oklahoma.
* CBOT reported no deliveries against CBOT March wheat and 77 K.C. wheat deliveries. MGEX reported 115 March spring wheat deliveries.
* CBOT May soft red winter wheat last traded up 6-3/4 cents at $6.57 per bushel. K.C. May hard red winter wheat was last up 5 cents at $6.28-1/4 a bushel and MGEX May spring wheat was last up 6-1/2 cents at $6.40.
CORN - Down 2 to 4 cents per bushel
* Corn futures hit their lowest since Feb 11 overnight.
* Technical buyers pulled corn from its overnight lows after benchmark CBOT May contract dropped below the low end of its 20-day Bollinger range for the first time since Dec. 7.
* Private exporters reported the sale of 175,000 tonnes of corn to Japan, USDA said.
* Taiwan's MFIG purchasing group bought about 65,000 tonnes of animal feed corn expected to be sourced from Argentina, European traders said.
* CBOT reported no deliveries against CBOT March corn futures.
* CBOT May corn was last down 2 cents at $5.36-1/4 per bushel.
SOYBEANS - Down 2 to 4 cents per bushel
* Follow-through selling expected in soybeans after three straight days of declines.
* CBOT May soybean futures showed strength early in the overnight session but turned lower after hitting technical resistance at 10-day moving average.
* CBOT reported no deliveries against CBOT March soybean futures.
* CBOT May soybeans were last down 3-1/4 cents at $13.88 per bushel. (Reporting by Mark Weinraub; editing by Jonathan Oatis)
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