CHICAGO, Dec 9 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.
WHEAT - Steady to up 2 cents per bushel
* Traders see mild round of short-covering, technical buying in wheat.
* Benchmark CBOT March soft red winter wheat contract found support at the low end of its 20-day Bollinger range during the overnight trading session. Traders watching to see if the contract can break through resistance at its 100-day moving average.
* CBOT March soft red winter wheat last traded up 3/4 cent at $5.70-3/4 per bushel. K.C. March hard red winter wheat was 1/4 cent higher at $5.37-1/4. MGEX March spring wheat was last up 5-1/2 cents at $5.48-3/4.
CORN - Steady to up 2 cents per bushel
* Choppy trade expected ahead of U.S. Agriculture Department's monthly supply and demand report on Thursday. Strong export demand underpins market.
* Private exporters reported the sale of 257,071 tonnes of corn to Mexico for delivery in the 2020/21 marketing year, the U.S. Agriculture Department said.
* Taiwan's MFIG purchasing group bought about 65,000 tonnes of animal feed corn expected to be sourced from the United States, European traders said.
* CBOT March corn futures contract rose above its 30-day moving average overnight.
* CBOT March corn was last up 1-1/2 cents at $4.21-1/4 per bushel.
SOYBEANS - Up 9 to 11 cents per bushel
* Bargain buying expected in soybeans after most-active contract posted losses in six of the previous seven sessions.
* Most-active January soybeans have fallen nearly 4% since hitting a lifetime high of $12 a bushel on Nov. 23.
* CBOT January soybeans last traded 9-3/4 cents higher at $11.55-1/2 per bushel. (Reporting by Mark Weinraub; editing by Jonathan Oatis)
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The Link LonkDecember 09, 2020 at 09:10PM
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CBOT Trends - Corn, wheat steady-up 2 cents; soy up 9-11 cents - Successful Farming
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