CBOT Trends-Wheat up 7-10 cents, corn up 1-4, soybeans up 4-7

CHICAGO, June 10 (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 Wednesday.

WHEAT - Up 7 to 10 cents per bushel

  • CBOT wheat futures rose on technical buying and short-covering from recent multi-month lows. Rising crude oil prices amid renewed hostilities in the Middle East further supported wheat.

  • Traders are squaring positions ahead of a monthly U.S. Department of Agriculture crop supply and demand report due on Thursday. Analysts polled by Reuters, on average, expect the USDA to trim its wheat production forecasts.

  • CBOT July soft red winter wheat WN26 was last up 8-3/4 cents at $5.94 a bushel. K.C. July hard red winter wheat KWN26 was last up 6 cents at $6.36-3/4 a bushel, while Minneapolis July spring wheat MWEN26 was 6-3/4 cents higher at $6.24-1/4 a bushel.

CORN - Up 1 to 4 cents per bushel

  • Corn futures firm as prices recover from multi-month lows at the start of the week, and as crude oil prices climb. Gains capped by good U.S. Midwest crop development weather.

  • Widespread rains across the Midwest this week and milder temperatures following late-week heat were seen aiding crop germination and early growth, forecasters said.

  • Traders are squaring positions ahead of Thursday's USDA report, which is expected to show larger corn crops in Brazil and Argentina.

  • CBOT July corn CN26 was last up 2-1/2 cents at $4.22 per bushel.

SOYBEANS - Up 4 to 7 cents per bushel

  • Soybean futures firm on bargain buying after a drop to four-month lows and as crude oil prices rose. Gains capped by favorable U.S. Midwest crop weather.

  • Traders are squaring positions ahead of Thursday's USDA report. Analysts polled by Reuters, on average, expect the agency to raise its soy crop forecasts for Brazil and Argentina.

  • CBOT July soybeans SN26 were last up 6-3/4 cents at $11.20-1/2 per bushel.


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