CBOT Trends-Wheat up 7-10 cents, corn up 2-3 cents, soybeans up 8-9 cents
CHICAGO, Oct 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 Thursday.
WHEAT - Up 7 to 10 cents per bushel
* Wheat headed higher in range-bound trade, supported by a softer dollar as traders await fresh fundamental direction. The CBOT December contract stayed inside of Wednesday's trading range in early moves.
* Traders continue to watch for signs of progress towards extending Ukraine's United Nations-backed shipping corridor beyond November.
* Disappointing weekly U.S. export sales may limit rallies. The U.S. Department of Agriculture (USDA) reported export sales of U.S. wheat in the week ended Oct. 13 at 185,100 tonnes (old and new crop years combined), below a range of trade expectations for 200,000 to 550,000 tonnes.
* The International Grains Council left its forecast for 2022/23 world wheat production unchanged at 792 million tonnes.
* Argentina's Rosario grains exchange cut its 2022/23 wheat harvest forecast to 15 million tonnes, from 16 million tonnes previously, after a late frost hit crops already damaged by drought.
* CBOT December soft red winter wheat last traded up 8 cents at $8.49-1/4 a bushel. K.C. December hard red winter wheat was last up 8 cents at $9.49-3/4 a bushel, and MGEX December spring wheat was last up 7-1/4 cents at $9.60-3/4 a bushel.
CORN - Up 2 to 3 cents per bushel
* Corn headed higher in range-bound trade as support from a softer U.S. dollar offsets pressure from the ongoing U.S. harvest and uncertainty about demand for grains. The benchmark December corn contract stayed inside of Wednesday's trading range in early moves.
* The U.S. Department of Agriculture reported export sales of U.S. corn in the week ended Oct. 13 at 408,300 tonnes, in line with trade expectations for 250,000 to 775,000 tonnes.
* The International Grains Council trimmed its forecast for 2022/23 global corn production by 2 million tonnes to 1.166 bln tonnes.
* CBOT December corn futures last traded up 2-3/4 cents at $6.81 per bushel.
SOYBEANS - Up 8 to 9 cents per bushel
* Soybeans head higher in technical moves. Spillover strength from wheat, corn and crude oil futures lends support while seasonal pressure from the ongoing U.S. harvest caps rallies.
* The USDA reported export sales of U.S. soybeans in the week ended Oct. 13 at 2,335,500 tonnes, in line with a range of trade expectations for 1,700,000 to 2,800,000 tonnes.
* In addition, under its daily reporting rules, the USDA confirmed private sales of 132,000 tonnes of U.S. soybeans to unknown destinations and another 201,000 tonnes to China.
* CBOT November soybeans last traded up 9 cents at $13.81-1/2 a bushel. (Reporting by Julie Ingwersen)
© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp