CBOT Trends-Wheat steady-down 2 cents, corn down 2-3, soybeans mixed

- 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 - Steady to down 2 cents per bushel

  • CBOT wheat futures edged down as traders adjusted positions before a widely followed U.S. government crop forecast later in the day.

  • Analysts polled by Reuters, on average, expect the U.S. Department of Agriculture to trim its wheat production forecasts.

  • The USDA reported net weekly wheat export sales at 666,300 metric tons.

  • CBOT July soft red winter wheat WN26 was last down 1 cent at $5.86-1/2 a bushel. K.C. July hard red winter wheat KWN26 was last up 1/2 cent at $6.31 a bushel, while Minneapolis July spring wheat MWEN26 was up 4-1/2 cents at $6.22-1/2 a bushel.

CORN - Down 2 to 3 cents per bushel

  • Corn futures ticked down as traders anticipated the USDA's monthly supply and demand report.

  • Thursday's USDA report is expected to show larger corn crops in Brazil and Argentina.

  • The USDA reported net weekly corn export sales at 1,927,300 metric tons.

  • Cooler, wetter weather this week in the U.S. Midwest is expected to aid crop development, according to Commodity Weather Group.

  • CBOT July corn CN26 was last down 2-1/4 cents at $4.16-3/4 per bushel.

SOYBEANS - Up 2 to down 2 cents per bushel

  • Soybean futures eased on position squaring as traders awaited the USDA's crop report.

  • Subdued oil prices, as investors assessed the latest U.S. and Iranian strikes in the Middle East conflict, also removed impetus for oilseeds like soybeans that are partly used for biofuel. O/R

  • The USDA reported net weekly soybean export sales at 352,800 metric tons.

  • CBOT July soybeans SN26 were last down 1-1/4 cents at $11.21-3/4 per bushel.