CHICAGO, June 18 (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. CDT (1330 GMT) on Friday. WHEAT - Up 13 to 15 cents per bushel * Weakness in U.S. dollar and strength in corn support wheat, which is bouncing off a two-month low. Some end-of-week short-covering also expected with most-active contract on track for a weekly loss of 4.0%. * Benchmark CBOT July soft red winter wheat contract rose above the low end of its 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 July soft red winter wheat was last up 14-3/4 cents at $6.53-3/4 per bushel; K.C. July hard red winter wheat was last 15-1/2 cents higher at $6.00-3/4 per bushel, and MGEX July spring wheat rose 14-1/2 cents to $7.65-3/4 per bushel. CORN - Up 15 to 20 cents per bushel * Short-covering, technical buying expected in corn. Concerns about dry conditions stressing crops in northwestern portion of U.S. Midwest and North Dakota add support. * New-crop December corn futures contract found support at a 50% retracement point on a Fibonacci chart tracking its rally to its lifetime high. * CBOT July corn was last down 22 cents at $6.51 per bushel. New-crop December last 23-1/4 cents lower at $5.49-1/4. SOYBEANS - Up 45 to 60 cents per bushel * Bargain buying expected in soy futures after seven days of declines pushed the front-month contract to its lowest level since Jan. 25. * Most-active CBOT November soybean futures contract rose above its 100-day moving average overnight. * The front-month soybean futures contract has fallen 8.1% this week and was on track to post its biggest weekly loss since September 2014. * CBOT July soybeans last traded up 56-1/2 cents at $13.86-1/4 per bushel, while new-crop November soybeans rose 51-1/2 cents to $13.04-1/4. (Reporting by Mark Weinraub Editing by Paul Simao)
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The Link LonkJune 18, 2021 at 08:07PM
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CBOT Trends-Corn up 15-20 cents, wheat up 13-15 cents, soy up 45-60 cents - Successful Farming
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