CHICAGO: Following are US trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Tuesday.
NOTE: CBOT markets will close at the normal time on Wednesday and remain closed on Thursday in observance of the US Thanksgiving holiday.
WHEAT – Steady to down 2 cents per bushel
Poor export demand for US wheat keeps bearish tone in place but declines limited by USDA report on Monday afternoon that showed good-to-excellent ratings for the US winter wheat crop slipped two percentage points to 52 percent.
CBOT December soft red winter wheat last traded down 3/4 cent at $4.21-1/4 per bushel, K.C. December hard red winter wheat was down 1/2 cent at $4.15-1/2, and MGEX December spring wheat was up 1/2 cent at $6.26-3/4.
CORN – Down 1 cent to 3 cents per bushel
Mild profit-taking expected after two days of gains pushed prices to their highest since Nov. 9 on Monday. US Agriculture Department report on Monday afternoon that showed harvest of massive US corn crop nearing completion hanging over the market.
CBOT December corn last traded down 1-1/2 cents at $3.43-1/2 per bushel.
SOYBEANS – Down 1 cent to 3 cents per bushel
Plentiful supplies weigh on prices but slow country movement underpinning cash market and limiting declines in futures. Support for the benchmark CBOT January soybean contract was noted at the 20-day moving average during overnight trading. Resistance was seen near Friday’s high of $9.92 a bushel, a level the contract failed to break through on Monday.
CBOT January soybeans last traded down 2 cents at $9.88 per bushel.
Source: Brecorder.com
