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CBOT Trends - Wheat up 5-7 cents, soy up 2-3 cents, corn steady-up 2 cents
CHICAGO, Jan 14 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Tuesday.
WHEAT - Up 5 cents to 7 cents per bushel
* Good world demand for supplies, concerns about crop development in some U.S. growing areas underpin the wheat market.
* Most-active soft red winter wheat futures contract hit highest on a continuous basis since August 2018 during overnight trading session.
* Technical support for benchmark CBOT March soft red winter wheat contract noted at five-day moving average overnight. Resistance seen at high end of 20-day Bollinger range.
* The lowest offer in the international tender from Egypt's state commodities buyer GASC to buy wheat on Tuesday was $235.30 a tonne FOB for wheat sourced from Russia, traders said. No U.S. wheat was offered in the tender.
* CBOT March soft red winter wheat last traded up 6-1/2 cents at $5.68-3/4 per bushel. K.C. March hard red winter wheat was last up 5-3/4 cents at $4.98-1/2 a bushel, and MGEX March spring wheat was last up 3-1/4 cents at $5.58-1/2 a bushel.
CORN - Steady to up 2 cents per bushel
* Strength in wheat, mild round of short-covering support the corn market. Concerns about export demand limit gains.
* CBOT March corn last traded up 1/4 cent at $3.89-3/4 per bushel.
SOYBEANS - Up 2 cents to 3 cents per bushel
* Market firming in anticipation of signing of Phase 1 of U.S.-China trade deal but investors want to see details of pact before pushing markets above recent highs.
* Benchmark CBOT March soybean futures faced resistance at its 10-day moving average overnight.
* Private exporters reported the sale of 120,000 tonnes of soybeans for delivery to unknown destinations during the 2020/21 marketing year, the U.S. Agriculture Department said on Tuesday morning.
* National Oilseed Processors Association's monthly report expected to show that its members crushed 171.644 million bushels of soybeans in December.
* There were 18 deliveries against the expiring CBOT January soybean futures contract, 235 deliveries against CBOT January soymeal and 281 deliveries against CBOT January soyoil. The contracts expire on Tuesday.
* CBOT March soybeans ended overnight trading 1-3/4 cents higher at $9.44 per bushel. (Reporting by Mark Weinraub; Editing by David Gregorio)
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