CBOT Trends-Wheat up 19-22 cents, corn up 8-14, soybeans up 20-26

- 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 Monday:

WHEAT - Up 19 to 22 cents per bushel

  • CBOT wheat Wv1 futures higher after the White House said China had committed to buying at least $17 billion of U.S. agricultural products annually over the next three years.

  • Futures also supported by concerns about reduced winter crop production due to a severe drought in the Plains wheat belt.

  • Buyers from the United States again purchased milling wheat in Poland in past weeks with high U.S. wheat prices generating demand for cheaper supplies, European traders said on Monday.

  • CBOT July soft red winter wheat WN26 was last up 22 cents at $6.57-3/4 a bushel. K.C. July hard red winter wheat KWN26 was last up 13-3/4 cents at $7.01-3/4 a bushel, and Minneapolis July spring wheat MWEN26 was up 16-3/4 cents at $7.02 a bushel.

CORN - Up 8 to 14 cents per bushel

  • CBOT corn futures higher following two sessions of sharp losses after the White House said China would boost U.S. agricultural purchases.

  • Rains moving across the Midwest Corn Belt early this week are expected to slow seeding progress that has been ahead of the normal pace, but the precipitation will boost corn growth in the coming days.

  • CBOT July corn CN26 was last up 13-3/4 cents at $4.69-1/2 per bushel.

SOYBEANS - Up 20 to 26 cents per bushel

  • Soybean futures rally on short covering following two sessions of steep declines after the White House said China would boost U.S. agricultural purchases.

  • A storm moving across the Midwest early this week is expected to slow soybean planting but the beneficial moisture will boost crop growth in the days ahead.

  • CBOT July soybeans SN26 were last up 25-1/2 cents at $12.02-1/2 per bushel.