CBOT Trends-Wheat and soybeans steady-up 3 cents, corn down 2-5 cents

CHICAGO, June 5 (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 Friday.

WHEAT - Steady to up 3 cents per bushel

  • CBOT wheat futures firmer on technical buying and short covering following five straight lower sessions. Ample wheat supplies and favorable global harvest prospects remained an anchor on prices.

  • Actively traded CBOT July wheat WN26 held technical chart support at its 200-day moving average during overnight trading.

  • Argentina's 2026/27 wheat planting is advancing at a record pace, with 32.4% of an estimated 6.5 million hectares sown just weeks after the season began, the Buenos Aires Grain Exchange said on Thursday.

  • CBOT July soft red winter wheat WN26 was last up 2-1/2 cents at $5.84-1/4 a bushel. K.C. July hard red winter wheat KWN26 was last up 2-1/4 cents at $6.22-1/2 a bushel, while Minneapolis July spring wheat MWEN26 was 2 cents higher at $6.23 a bushel.

CORN - Down 2 to 5 cents per bushel

  • Corn futures fell for a sixth straight session as rains forecast for the U.S. Midwest boosted yield prospects.

  • CBOT July CN26 and September CU26 corn both posted new contract lows during overnight trading. July touched the lowest level for a most-active contract since January 16.

  • Traders continue to monitor any news of Chinese purchases of U.S. crops after Beijing agreed to expand agricultural trade at a mid-May summit with Washington.

  • CBOT July corn CN26 was last down 4 cents at $4.20-1/2 per bushel.

SOYBEANS - Steady to up 3 cents per bushel

  • Soybean futures edged higher on short covering after five straight sessions of declines that took the market to multi-month lows. Prices anchored by favorable U.S. crop weather and a lack of large U.S. soybean purchases by China since the U.S.-China summit in mid-May.

  • Actively traded July soybeans SN26 fell below its 200-day moving average on Thursday for the first time in four months and remained below the key technical level on Friday.

  • The U.S. Department of Agriculture confirmed export sales of 190,000 metric tons of U.S. soymeal to the Philippines.

  • CBOT July soybeans SN26 were last up 3/4 cent at $11.30-1/4 per bushel.


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