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 Thursday.
Wheat – Steady to up 2 cents per bushel
CBOT wheat climbed after losses on bargain buying and positioning ahead of the U.S. Fourth of July holiday weekend.
Abundant supplies are hanging over the wheat market, with U.S. farmers progressing with their harvests, while crops in Europe and the Black Sea region are expected to be sizeable despite harsh weather.
Dry weather in southern Ukraine during sowing and plant growth stages has significantly reduced winter wheat and barley yields, scientists at the Ukrainian National Academy of Agrarian Sciences said on Wednesday.
CBOT September soft red winter wheat was last up 1/4 cent to $5.64-3/4 per bushel. K.C. September hard red winter wheat was last up 3-3/4 cents to $5.46 per bushel.
Wheat and corn down 2-3 cents, soy up 7-9
Corn – Up 4 to 5 cents per bushel
CBOT corn recovered from the week’s earlier lows on bargain buying.
A mix of showers and warm, mild weather is set to continue in the U.S. Midwest corn belt, with traders currently seeing limited threats to the crop as it approaches the crucial pollination stage.
CBOT December corn was up 6-1/2 cents to $4.40 per bushel.
Soybeans – Up 7 to 11 cents per bushel
CBOT soybeans shrugged off pressure from ample supplies ahead of the Fourth of July holiday weekend with bargain buying and strengthening soyoil futures.
Soyoil futures were supported by a tax-cut and spending bill adopted by the U.S. Senate included a measure to restrict biofuel credits to North American feedstock.
CBOT November soybeans were last up 8-3/4 cents to $10.56-3/4 per bushel.
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