CHICAGO, Dec 16 (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 - Up 3 to 4 cents per bushel
* Wheat higher on global supply uncertainty, as a new wheat export tax imposed by top producer Russia is expected to add more volatility to the market, traders said.
* Overnight, benchmark CBOT March soft red winter wheat contract touched its 50-day moving average.
* Futures are supported by strong demand, with Egypt, Tunisia and Thailand purchasing various grades of wheat.
* CBOT March soft red winter wheat last traded up 3-3/4 cents at $6.03-1/2 per bushel. K.C. March hard red winter wheat was last up 2-1/2 cents at $5.68-1/2. MGEX March spring wheat was last up 2-1/4 cents at $5.61-3/4 per bushel.
CORN - Up 3 to 4 cents per bushel
* Corn futures climb, following soybeans higher as traders weigh precipitation in South American weather forecasts against a tightening supply picture.
* Overnight, benchmark CBOT March corn contract climbed above its 20-day moving average.
* An ethanol import quota in Brazil, used almost exclusively by U.S. producers, expired Monday, and likely won't be renewed, according to Brazilian officials.
* CBOT March corn was last up 3-1/2 cents at $4.28-1/4 per bushel.
SOYBEANS - Up 7 to 8 cents per bushel
* Soybean futures gained as U.S. soybean crushing reached record highs, offsetting pressure from Brazilian rain forecasts.
* U.S. soy processors crushed 181.018 million bushels of soybeans in November, their third largest monthly crush on record, the National Oilseed Processors Association said, beating analyst expectations of 180.0 million bushels.
* Rains in Brazil offer hope for salvaging drought-stricken crops, but persistent dryness across Argentina continues to beleaguer soybean crops, with only intermittent rains expected in the coming six to 10 days.
* An ongoing wage strike by Argentine oilseed workers threatens exports from the country.
* CBOT January soybeans last traded up 7-1/2 cents at $11.91-3/4 per bushel. (Reporting by Christopher Walljasper; editing by Jonathan Oatis)
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CBOT Trends - Soybeans up 7-8 cents, wheat, corn up 3-4 - Successful Farming
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