CHICAGO, Feb 24 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) 8:30 a.m. CST (1430 GMT) on Wednesday.
NOTE: First notice day for deliveries against CBOT March futures contracts is Friday.
WHEAT - Up 3 to 4 cents per bushel
* Wheat higher on spillover strength from corn and soybeans, stressful cold in Russian wheat areas and dry conditions in portions of the U.S. Plains.
* Technical buying lends support, with the CBOT May contract setting a one-month high in early moves at $6.75-1/2 a bushel.
* CBOT May soft red winter wheat last traded up 3-1/2 cents at $6.73-3/4 per bushel. K.C. May hard red winter wheat was last up 4 cents at $6.51-1/4 a bushel and MGEX May spring wheat was last up 3 cents at $6.51.
CORN - Up 3 to 4 cents per bushel
* Corn higher in rangebound trade, supported by South American weather worries including planting delays in Brazil and dryness in Argentina. The CBOT May contract stayed inside of Tuesday's trading range in early moves.
* Brazil may produce a record corn crop of 108.2 million tonnes this season, according to the average forecast of a Reuters poll of 11 analysts, even though a projected one-fourth of the country's second corn crop may be planted outside the ideal climate window.
* CBOT May corn was last up 4 cents at $5.56-1/2 per bushel, with new-crop December last up 4 cents at $4.73-3/4.
SOYBEANS - Up 11 to 14 cents per bushel
* Soybeans higher on South American weather issues, including rains slowing the harvest in Brazil and forecasts for dryness in Argentina. Chart-based buying lends support as back months, including new-crop November soybeans, climb to life-of-contract highs.
* The front six CBOT soyoil futures contracts set contract highs, although rival Malaysian palm oil futures closed lower.
* CBOT May soybeans were last up 12-1/2 cents at $14.21 per bushel, with new-crop November last up 5-3/4 cents at $12.27-3/4. (Reporting by Julie Ingwersen)
© Copyright Thomson Reuters 2021. Click For Restrictions - http://about.reuters.com/fulllegal.asp
The Link LonkFebruary 24, 2021 at 09:25PM
https://ift.tt/3dUR9xp
CBOT Trends - Soy up 11-14 cents, corn and wheat up 3-4 cents - Successful Farming
https://ift.tt/3gguREe
Corn
No comments:
Post a Comment