CBOT Trends-Wheat down 2-4 cents, corn down 2-6, soybeans down 4-7 cents

- 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 Tuesday.

WHEAT - Down 2 to 4 cents per bushel

  • CBOT wheat Wv1 lower for a second straight session on profit-taking, after hitting six-week highs a day earlier. Losses limited by worries about tightening supplies and restricted Russian grain shipments on the Sea of Azov.

  • The U.S. Department of Agriculture said 67% of the U.S. winter wheat harvest was complete as of Sunday, up from 59% a week earlier.

  • Spring wheat ratings improved to 58% good to excellent, up a point from a week ago. Analysts, on average, had expected a one-point decline.

  • CBOT September soft red winter wheat WU26 was last down 2-3/4 cents at $6.32-1/2 per bushel. K.C. September hard red winter wheat KWU26 was last down 2 cents at $6.64-1/4 per bushel, and Minneapolis September spring wheat MWEU26 was last down 3 cents at $6.50-1/4 per bushel.

CORN - Down 2 to 6 cents per bushel

  • Corn futures Cv1 eased on technical selling and profit-taking, after hitting a six-week high on Monday. Improved weekly government crop condition ratings weighed on prices, though losses were limited by concerns about hot, dry Midwest weather this week.

  • The USDA said 68% of the U.S. corn crop was in good to excellent shape as of Sunday, up one point from a week earlier and a point above the average trade estimate.

  • Above-normal temperatures and below-normal rainfall were expected in the Midwest through the end of the week before temperatures were due to moderate in the 6 to 15 day period, forecasters said.

  • CBOT December corn CZ26 was last down 5-3/4 cents at $4.57-1/2 per bushel.

SOYBEANS - Down 4 to 7 cents per bushel

  • Soybean futures Sv1 lower on profit-taking, after hitting an eight-week high on Monday and as government crop condition ratings improved in the past week. Good export demand and concerns about stressful heat and below-normal rains this week in the Midwest limited declines.

  • The USDA rated 65% of the U.S. soybean crop in good to excellent condition as of Sunday, up one point from a week earlier. Analysts, on average, expected the rating to hold steady.

  • China's soybean imports in June rose 10.5% from a year earlier to 13.55 million metric tons, data from the General Administration of Customs showed on Tuesday.

  • CBOT November soybeans SX26 were last down 6-3/4 cents at $11.88 per bushel.