CBOT Trends-Wheat down 9-11 cents, corn down 2-3, soybeans down 2-4
CHICAGO, May 27 (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 Wednesday.
WHEAT - Down 9 to 11 cents per bushel
CBOT wheat futures fell to a two-week low on Wednesday, rounding off a fifth consecutive session of losses, as traders shrugged off falling U.S. crop ratings and looked ahead to Northern Hemisphere harvests that will add new supply into the market. GRA/
The market ignored U.S. government data on Tuesday indicating that 26% of the U.S. winter wheat crop was in good-to-excellent condition, below analysts' expectations and the lowest on record for this time of the year.
Agriculture consultancy Sovecon raised its forecast on Wednesday for Russia's 2026 wheat crop to 90.3 million metric tons from 89.7 million tons seen earlier, citing favorable "moisture reserves".
A group of South Korean flour mills bought an estimated 100,000 metric tons of milling wheat to be sourced from the U.S. and Canada in an international tender on Wednesday, European traders said.
CBOT July soft red winter wheat WN26 was last down 10-3/4 cents at $6.24-3/4 a bushel. K.C. July hard red winter wheat KWN26 was last down 7-3/4 cents at $6.68-1/2 a bushel, while Minneapolis July spring wheat MWEN26 was 5-3/4 cents lower at $6.90-1/2 a bushel.
CORN - Down 2 to 3 cents per bushel
Corn futures fell as cool, dry weather in the U.S. Midwest was expected to keep stress on crops low, according to forecaster Commodity Weather Group.
The Busan section of the Korea Feed Association (KFA) in South Korea purchased an estimated 65,000 metric tons of animal feed corn in a private deal on Tuesday without issuing an international tender, European traders said on Wednesday.
The Incheon section of the KFA purchased about 65,000 metric tons of animal feed corn to be sourced from optional worldwide origins in a private deal on Wednesday without issuing an international tender, European traders said.
CBOT July corn CN26 was last down 2-3/4 cents at $4.54-3/4 per bushel.
SOYBEANS - Down 2 to 4 cents per bushel
Soybean futures dipped as cool, dry weather was expected to favor planting and early crop development in the U.S. Midwest.
Forecaster Commodity Weather Group said low odds of hot weather in the U.S. Midwest over the next 11-15 days were likely to limit stress on developing soy crops, despite dryness.
CBOT July soybeans SN26 were last 3-1/2 cents lower at $11.82-1/2 per bushel.
