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 Thursday.
WHEAT – Up 1 to 4 cents per bushel
Weak US dollar supportive to wheat market. K.C. hard red winter wheat futures leading the way with additional support from dry conditions in US Plains.
CBOT March soft red winter wheat last traded up 1-3/4 cents at $4.57-1/2 per bushel. K.C. March hard red winter wheat was 4-1/4 cents higher at $4.74 and MGEX March spring wheat was up 3 cents at $6.03-1/2.
CORN – Steady to up 2 cents per bushel
Consolidation trade seen as market struggles to break through six-month highs hit earlier this week. Strong exports provide support, limiting bouts of profit taking.
US Agriculture Department on Thursday morning reported weekly corn export sales of 2.072 million tonnes, topping forecasts that ranged from 1.0 million to 1.6 million tonnes.
CBOT March corn last traded up 3/4 cent at $3.68 a bushel.
SOYBEANS – Steady to up 2 cents per bushel
Strength in soymeal continues to lead soybean futures higher on concerns about weather in Argentina. Latest forecast for Argentina calls for little relief from hot and dry conditions in key crop production areas. Most-active soybean contract hit highest since July 25 during overnight trading session.
CBOT March soybeans last traded up 1 cent at $10.18-1/4 per bushel.
Source: Brecorder.com
