CBOT Trends-Wheat up 3/4-cent to 2 cents, corn up 1/4-cent to 3 cents, soybeans up 3-8 cents
CHICAGO, July 2 (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 3/4 cent to 2 cents per bushel
Wheat futures rose for a third session, as traders adjusted positions ahead of the federal July 4th holiday, extending gains triggered by the U.S. Department of Agriculture's acreage and stocks estimates on Tuesday.
USDA estimated 2026 U.S. wheat plantings well below market expectations.
Net U.S. wheat export sales for 2026/27 were 300,060 metric tons in the week that ended on June 25, the U.S. Department of Agriculture said. Analysts expected 300,000 to 600,000 tons.
Saudi Arabia issued a tender to purchase 655,000 metric tons of wheat, the General Food Security Authority said on Thursday.
Statistics Canada on Tuesday pegged Canadian wheat area below trade expectations, adding further support to wheat prices.
CBOT September soft red winter wheat WU26 was last up 2-1/4 cents to $6.02-1/4 per bushel. K.C. September hard red winter wheat KWU26 was last 2-1/4 cents higher to $6.37-1/4 per bushel, while Minneapolis September spring wheat MWEU26 was last up 1 cent to $6.19-1/2 per bushel.
CORN - Up 1/4-cent to 3 cents per bushel
Corn extended gains on export demand and spillover support following Tuesday's USDA reports, while traders monitored a heat wave in the U.S. corn belt and Europe.
Net U.S. corn export sales were 732,070 metric tons for 2025/26 in the week that ended on June 25, the USDA said. Analysts expected 500,000 to 1.1 million tons.
Meanwhile, weekly new-crop U.S. corn export sales were a net 767,756 metric tons for 2026/27, USDA said. Analysts expected 400,000 to 1.1 million tons.
Corn continued to see some support from Tuesday's USDA acreage and stocks estimates. The USDA estimated the July 1 quarterly corn stocks lower than analysts' views.
But gains were capped by ample global supplies and falling oil prices LCOc1, as corn is used for producing biofuels.
Hot weather hit the U.S. Midwest this week, though widespread showers and easing heat into next week were expected to limit stress on corn and soybean crops.
CBOT December corn CZ26 was last up 3/4 cent at $4.43 per bushel.
SOYBEANS - Up 3 to 8 cents per bushel
Soybeans turned higher amid continued rumors of increased Chinese interest in purchasing U.S. soy, and traders adjusting positions ahead of the holiday weekend.
But news of sluggish weekly exports slumping to a marketing year low for old-crop beans, and no new sales to China, may weigh on prices during the session, one market analyst said.
U.S. soybean export sales were a net 41,786 metric tons for 2025/26 in the week that ended on June 25, the U.S. Department of Agriculture said. Analysts expected 300,000 to 650,000 tons.
Meanwhile, weekly new-crop U.S. soybean export sales were 182,533 metric tons for 2026/27, USDA said. Analysts expected 350,000 to 900,000 tons.
CBOT November soybeans SX26 were last 6 cents higher to $11.55-1/4 per bushel.
