CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Monday.
Wheat – Up 2 to 5 cents per bushel
Wheat futures edged higher along with CBOT corn and soybeans.
Ample world supplies limit gains.
CBOT December soft red winter wheat was last up 3-1/4 cents at $5.30-1/2 per bushel. K.C. December hard red winter wheat was last 2 cents higher at $5.23 per bushel, and Minneapolis December wheat was last up 1/4 cent at $5.90-1/4 a bushel.
Corn – Up 2 to 5 cents per bushel
CBOT December corn overnight set its highest price in nearly a month.
Consultancy Pro Farmer issued national crop estimates below those from the U.S. Department of Agriculture on Friday, following the consultancy’s annual tour of Midwestern farms.
The USDA is slated to issue a weekly update on U.S. corn and soy crop conditions and on spring wheat harvesting on Monday.
Wheat and corn steady-down 2 cents, soybeans up 1-4
Taiwan’s MFIG purchasing group issued an international tender to buy up to 65,000 metric tons of animal feed corn that can be sourced from the United States, Argentina, Brazil or South Africa, European traders said.
CBOT December corn was last up 3-1/4 cents at $4.14-3/4 per bushel.
Soybeans – Up 1 to 3 cents per bushel
Soybean futures rose slightly overnight after setting a two-month high on Friday.
Dryness is stressing crops in the U.S. southern Midwest and Tennessee Valley ahead of autumn harvesting, Commodity Weather Group said.
U.S. farmers are expected to reap a bumper crop, though dry conditions and pockets of disease pressure may limit yields, according to Pro Farmer.
The U.S. Environmental Protection Agency on Friday approved most of its backlog of requests by small oil refineries for biofuel law exemptions, raising concerns among biofuels advocates over a potential hit to demand.
Traders worried that China, the world’s biggest soybean importer, remained absent from the U.S. market amid trade tensions with Washington.
CBOT November soybeans were last up 2 cents at $10.60-1/2 per bushel.
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