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335788

CBOT Trends-Wheat up 8-12 cents, corn up 2-5, soybeans up 14-18

CHICAGO, Nov 4 (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 Friday.

WHEAT - Up 8 to 12 cents per bushel

* Wheat higher on technical buying and end-of-week short covering following two days of declines. A weaker U.S. dollar and concerns about global supplies also supportive.

* The Benchmark CBOT December wheat contract is on pace for its first weekly gain in five weeks.

* Russia this week said it would resume its participation in a deal to free up grain exports from Ukraine's Black Sea ports but the Kremlin said it has not committed to staying in the grain deal beyond the current agreement's Nov. 19 deadline.

* Flooding and excessive rains across key parts of Australia's wheat growing areas have damaged what was expected to be a record high quality crop just a few weeks ago.

* CBOT December soft red winter wheat last traded 10-1/2 cents higher at $8.51 a bushel. K.C. December hard red winter wheat was last up 11-1/2 cents at $9.52-3/4 a bushel, and MGEX December spring wheat gained 10-1/4 cents to $9.53-1/4 a bushel.

CORN - Up 2 to 5 cents per bushel

* Corn firmer after two days of declines on technical buying and short covering ahead of the weekend. A weaker dollar and spillover from sharply higher energy markets adding support.

* Benchmark CBOT December corn contract broke through technical chart resistance at its 50-day moving average overnight but hit overhead resistance at its 20-day moving average. December corn on Thursday closed below its 50-day moving average for the first time since August.

* CBOT December corn futures last traded 3-1/2 cents higher at $6.82-3/4 per bushel.

SOYBEANS - Up 14 to 18 cents per bushel

* Soybeans rebound from the prior session's losses on stronger soyoil futures and spillover support from sharply higher energy markets. Hopes for improved soybean export demand also supporting gains.

* Benchmark CBOT January soybean futures contract broke through technical chart resistance at its 200-day moving average overnight.

* The actively traded December soyoil contract scaled a five-month peak on Friday.

* CBOT January soybeans were last 16-1/4 cents higher at $14.53-1/4 a bushel. (Reporting by Karl Plume; editing by David Evans)

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