CBOT Trends-Wheat down 2-4 cents, corn steady-down 1, soy up 2-3

By Times Of India on 29 Aug 2017 | read
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CHICAGO, Aug 28 (Reuters) - Following are U.S. trade expectations for the resumption of the grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Down 2 to 4 cents per bushel

Lower on technical selling, plentiful global wheat supplies and a lack of supportive news.

* CBOT December soft red winter wheat last traded down 2-3/4 cents at $4.32-1/1 per bushel.

CORN - Steady to down 1 cent per bushel

Steady to lower, seeking fresh direction. Plentiful global grain supplies and expectations of a sizable U.S. harvest hang over the market. Fresh export demand may lend support.

* The USDA said private exporters sold 160,020 tonnes of U.S. corn to Mexico for delivery in the 2017/18 marketing year.

* Pro Farmer, a division of Farm Journal Media, on Friday estimated U.S. corn production at 13.953 billion bushels, based on an average yield of 167.1 bpa. The production and yield estimates were lower than USDA's forecast for the third-largest U.S. corn harvest of 14.153 billion bushels and a yield of 169.5 bpa.

* CBOT December corn last traded down 3/4 cent at $3.52-3/4 per bushel.

SOYBEANS - Up 2 to 3 cents per bushel

Modestly higher on uncertainty about U.S. crop weather.

* Pro Farmer, a division of Farm Journal Media, on Friday estimated U.S. 2017 soy output at 4.331 billion bushels, based on an average yield of 48.5 bushels per acre. That is lower than the USDA's prediction on Aug. 10 of 4.381 billion bushels on a yield of 49.4 bpa.

* CBOT November soybeans last traded up 2-3/4 cents at $9.47-1/4 a bushel. (Reporting by Julie Ingwersen)

 

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