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 1 to 6 cents per bushel
CBOT wheat futures higher for the fourth time in five sessions, supported by a weaker dollar which makes U.S. wheat more competitive in export markets.
South Korean millers bought about 50,000 metric tons of U.S. wheat in a tender on Monday.
Saudi Arabia bought 621,000 metric tons of optional-origin wheat via a tender for arrival in August to October.
CBOT July soft red winter wheat was last up 5-3/4 cents at $5.30-3/4 per bushel. K.C. July hard red winter wheat was last up 8-1/4 cents at $5.24-3/4 a bushel, while Minneapolis July spring wheat was last up 4-1/2 cents at $5.77-3/4 a bushel.
Wheat down 1-2 cents, corn mixed, soybeans down 1-4
Corn – Up 1 to 4 cents per bushel
Corn futures higher in a technical and short covering rebound, supported by a weaker U.S. dollar. Favorable Midwest crop conditions capping gains as recently planted corn fields are due to receive ample rain through midweek.
CBOT July corn was last up 3-3/4 cents at $4.47-1/4 per bushel.
Soybeans – Up 1 to 4 cents per bushel
Soybeans firm on short covering and technical buying following two sessions of losses. Gains capped by recent favorable U.S. Midwest weather that boosted soybean planting ahead of rains this week.
Actively traded July soybeans held technical chart support at the 100- and 200-day moving averages during overnight trading.
CBOT July soybeans were last up 3-3/4 cents at $10.53-3/4 per bushel.
