CHICAGO, May 8 (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 - Up 1 to 2 cents per bushel

• CBOT wheat Wv1 firmed in early moves, consolidating after a three-session slide tied to a setback in crude oil prices this week. Market underpinned by ongoing drought stress in the southern U.S. Plains winter wheat belt.

• Analysts surveyed by Reuters on average expect the U.S. Department of Agriculture on May 12 to forecast a smaller U.S. 2026/27 winter wheat crop than last year.

• CBOT July soft red winter wheat WN26 was last up 1-3/4 cents at $6.14 a bushel. K.C. July hard red winter wheat KWN26 was last up 1-3/4 cents at $6.69 a bushel, and Minneapolis July spring wheat MWEN26 was up 2-1/4 cents at $6.76 a bushel.

CORN - Down 3/4 to 1-1/4 cents per bushel

• CBOT corn trended modestly lower ahead of the daily pause in trade, awaiting fresh direction. The benchmark July contract CN26 stayed well above a two-week low set on Thursday.

• The CBOT July contract CN26 was hovering near its 20- and 50-day moving averages.

• Crude oil prices pared early gains, a day after renewed fighting near the Strait of Hormuz raised new questions about the ceasefire between the United States and Iran.

• CBOT July corn CN26 was last down 3/4 cent at $4.66-3/4 per bushel.

SOYBEANS - Up 5 to 6 cents per bushel

• Soybean futures head higher, stabilizing after a three-session decline. Traders await direction from crude oil given tensions in the Middle East and soyoil's role as a feedstock for biodiesel.

• Market players also await the May 14-15 summit between U.S. President Donald Trump and Chinese leader Xi Jinping that could spur fresh U.S. export business.

• CBOT July soybeans SN26 were last up 5-3/4 cents at $11.98 per bushel.