CHICAGO, June 4 (Reuters) - The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday.

WHEAT - Up 2 cents to down 1 cent per bushel

• CBOT wheat futures were narrowly mixed near two-month lows. Ample wheat supplies and favorable global harvest prospects anchored prices.

• Improved weather globally plus the onset of Northern Hemisphere wheat harvesting weighed on grain prices, turning attention away from the Iran war and drought damage to winter wheat in the U.S. Plains.

• The U.S. Department of Agriculture reported net old-crop U.S. wheat export sales cancelations of 642,200 metric tons for the week ended May 28 and net sales of 838,500 tons of new-crop wheat.

• Chinese state buyers could raise wheat imports for millers later in the year as rain during the harvest has damaged some crops at the world's top grower, with up to 7% of output seeing quality downgrades, analysts said.

• CBOT July soft red winter wheat WN26 was last up 1 cent at $5.88-1/4 a bushel. K.C. July hard red winter wheat KWN26 was last up 1/4 cent at $6.24-1/4 a bushel, while Minneapolis July spring wheat MWEN26 was 1-1/4 cents higher at $6.27-1/2 a bushel.

CORN - Down 3 to 5 cents per bushel

• Corn futures extended losses and fell for a fifth straight session as favourable U.S. crop weather lifted yield prospects. Weaker crude oil prices added pressure.

• Grain markets are monitoring for any Chinese purchases of U.S. crops after Beijing agreed to expand agricultural trade at a mid-May summit with Washington.

• The USDA reported net U.S. corn export sales in the week ended May 28 at 883,300 metric tons for shipment in the 2025/26 marketing year, below a range of trade estimates. New-crop sales totaled and 243,700 tons, in line with expectations.

• In addition, the USDA on Thursday confirmed private sales of 115,000 metric tons of corn to Colombia for shipment in the 2026/27 season.

• Traders are monitoring a case of New World screwworm, a flesh-eating parasite, in a calf in Texas for potential impact on the U.S. cattle herd and related feed demand.

• CBOT July corn CN26 was last down 3-3/4 cents at $4.27-3/4 per bushel after posting a contract low of $4.25-1/4 during overnight trading.

SOYBEANS - Down 4 to 7 cents per bushel

• Soybean futures lower for a fifth straight session as favourable U.S. crop weather boosted yield potential. Weaker crude oil prices weighed on soyoil, adding pressure to soybeans as the oilseed is a feedstock for biofuel.

• A lack of major U.S. soybean purchases by China since the U.S.-China summit in mid-May hung over the market.

• The USDA said a net 276,900 metric tons of U.S. soybeans were sold for export in the week ended May 28 for shipment in the 2025/26 marketing year, in line with trade estimates. New-crop sales totaled 243,000 tons, also in line with expectations.

• CBOT July soybeans SN26 were last 6-1/2 cents lower at $11.47-1/2 per bushel.