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 Wednesday.
Wheat – Down 1 to 2 cents per bushel
Wheat futures rose on Wednesday, extending gains from the previous session, after top exporter Russia trimmed its harvest and export forecasts, but gains were limited by ample global supply.
Crop scouts on the first day of an annual three-day tour of North Dakota’s hard red spring wheat crop projected above-average yields in the southern part of the top-producing state following plentiful rains this summer, although the yields fell short of a record set last year.
CBOT September soft red winter wheat was last down 2-1/2 cents to $5.47 per bushel. K.C. September hard red winter wheat was last down 2-1/4 cents to $5.31 per bushel. Minneapolis September wheat was last down 1 cent to $5.90-3/4 a bushel.
Wheat up 1-2 cents, corn down 3-4, soy down 2-5
Corn – Steady to up 1 cent per bushel
Corn futures were nearly unchanged as forecasts for crop-friendly rainy weather and plentiful supply weighed.
The United States and Japan struck a deal to lower the hefty tariffs President Donald Trump threatened to impose on goods from its Asian ally that included a $550 billion package of U.S.-bound investment and loans from Tokyo.
The U.S.-Japan deal has added broad support to grain futures.
CBOT December corn was last unchanged at $4.18 per bushel.
Soybeans – Up 5 to 6 cents per bushel
Soybeans climbed following a decline in U.S. crop ratings and hopes that trade deals may boost demand for U.S. exports.
Beneficial weather has continued to weigh on soy futures.
CBOT November soybeans were last 5-3/4 cents higher to $10.31-1/4 per bushel.
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