CBOT Trends-Wheat up 3-4 cents, corn up 1-3 cents, soy flat-up 1 cent

- 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 - Up 3 to 4 cents per bushel

  • Wheat futures rebounded after falling for the previous three sessions.

  • U.S. winter wheat harvesting has progressed faster than normal, government data showed, after farmers in the Plains grappled with drought during the growing season and rains at harvest time.

  • Traders were watching for beneficial rains in the northern U.S. Plains, where farmers grow spring wheat.

  • CBOT July soft red winter wheat WN26 was last up 3-1/4 cents at $5.90 per bushel. K.C. July hard red winter wheat KWN26 was last up 4-3/4 cents at $6.23 per bushel, and Minneapolis July spring wheat MWEN26 was up 1/4 cent at $5.90-1/2 per bushel.

CORN - Up 1 to 3 cents per bushel

  • Corn futures edged higher, with traders waiting for highly anticipated U.S. acreage and stocks data due out on June 30. Traders also monitored U.S. export demand and crop weather.

  • Next week, rain will limit stress to crops as temperatures rise in the Midwest, Commodity Weather Group said.

  • Crude oil prices fell toward four-month lows and the dollar marched up to one-year highs, keeping a lid on grain prices.

  • CBOT July corn CN26 was last up 1-1/2 cents at $4.11-1/4 per bushel.

SOYBEANS - Flat to 1 cent higher

  • Soybean futures were nearly flat as traders watched for U.S. sales to top importer China.

  • USDA is scheduled to issue U.S. acreage estimates on June 30, along with quarterly data on U.S. grain stocks.

  • "Like corn, the soybean futures appear comfortable to be trading in a sideways range here until the reports next week Tuesday," CHS Hedging said in a note.

  • CBOT July soybeans SN26 were last up 1/2 cent at $11.17-1/2 per bushel.