CHICAGO, Dec 29 (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 Tuesday:
WHEAT - Even to down 2 cents per bushel
* Wheat futures near even after two days of losses that trimmed recent highs.
* Precipitation across the U.S. Plains in the coming week should improve planted winter wheat that suffered from dryness through the fall, adding pressure to markets.
* Large speculators increased their net short position in Chicago Board of Trade wheat futures to -21,540 contracts in the week of Dec. 21, regulatory data released on Monday showed.
* CBOT March soft red winter wheat last traded 1 cent lower at $6.13-1/4 per bushel. K.C. March hard red winter wheat last dropped 1-3/4 cents to $5.75-1/4 per bushel. MGEX March spring wheat was last 3/4 cents higher at $5.77-1/2 per bushel.
CORN - Even to down 2 cents per bushel
* Corn fell after 11 days of gains, as increased rainfall in Brazil and Argentina strengthens crop prospects and eases global supply concerns.
* The most-active CBOT March corn futures contract continued to push against the high end of its 20-day Bollinger range during overnight trading.
* Large speculators raised their net long position in Chicago Board of Trade corn futures to 297,888 contracts in the week of Dec. 21.
* CBOT March corn was last down 1/4 cent at $4.56-1/4 per bushel.
SOYBEANS - Down 3 to 5 cents per bushel
* Soybean futures fell for a second session as talks in the ongoing Argentine labor strike look to resolve port blockages that have restricted the flow of soybeans and meal from the country.
* Meetings continue on Tuesday to work out 2021 compensation packages and COVID protection measures for Argentina's oilseed workers and grain inspectors, after more than two weeks of impasse.
* Large speculators raised their net long position in Chicago Board of Trade soybean futures to 178,243 contracts in the week of Dec. 21.
* CBOT January soybeans last traded down 3-3/4 cents at $12.51-1/2 per bushel, while March soybeans lost 4-3/4 cents to 12.52-1/2 per bushel. (Reporting by Christopher Walljasper; editing by Jonathan Oatis)
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The Link LonkDecember 29, 2020 at 09:13PM
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CBOT Trends - Wheat, corn down 0-2 cents, soybeans down 3-5 cents - Successful Farming
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