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335988

CBOT Trends-Wheat up 7-8 cents, corn down 1-2 cents, soybeans down 2-5 cents

CHICAGO, Nov 10 (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 8 cents per bushel

* Wheat seen higher on bargain buying after the CBOT December contract dipped to a two-monthly low of $8.02-3/4 in early moves, just above psychological support at the $8 mark. A drop in the dollar after U.S. inflation data lent support ahead of the daily pause in trade.

* The U.S. Department of Agriculture (USDA) reported export sales of U.S. wheat in the week ended Nov. 3 at 322,500 tonnes, in line with trade expectations for 250,000 to 600,000 tonnes.

* The Rosario grains exchange on Wednesday lowered its estimate of Argentina's 2022/23 wheat harvest to 11.8 million tonnes, from 13.7 million previously, warning it could fall further amid a protracted drought.

* Saudi Arabia's main state wheat buying agency, the Saudi Grains Organization, issued an international tender to purchase an estimated 595,000 tonnes of wheat, European traders said.

* CBOT December soft red winter wheat was last up 7-3/4 cents at $8.14-1/4 a bushel. K.C. December hard red winter wheat was last up 6 cents at $9.36, and MGEX December spring wheat was last up 6-1/4 cents at $9.44-1/2.

CORN - Down 1 to 2 cents per bushel

* Corn drifted lower in early moves one day after the USDA raised its estimates of U.S. 2022/23 corn yield and production. But a downturn in the dollar and fresh export sales to Mexico could lend support.

* The USDA (USDA) reported export sales of U.S. corn in the week ended Nov. 3 at 265,300 tonnes, below a range of trade expectations for 300,000 to 650,000 tonnes.

* Through its daily reporting system, the USDA confirmed private sales of 209,931 tonnes of U.S. corn to Mexico for delivery in the 2022/23 marketing year that began Sept. 1.

* CBOT December corn was last down 3/4 cent at $6.63-3/4 per bushel.

SOYBEANS - Down 2 to 5 cents per bushel

* Soybeans lower in early moves one day after the USDA in monthly supply-demand reports raised its estimate of U.S. 2022/23 soybean production and yield.

* The USDA (USDA) reported export sales of U.S. soybeans in the week ended Nov. 3 at 794,900 tonnes, in line with trade expectations for 600,000 to 1,200,000 tonnes.

* CBOT January soybeans last traded down 2 cents at $14.50 a bushel. (Reporting by Julie Ingwersen)

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