CBOT Trends-Corn up 1-2 cents, soybeans up 4-7, wheat mixed
Nov 27 (Reuters) -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. CST (1430 GMT) on Wednesday:
NOTE: The market will be closed on Thursday for the Thanksgiving holiday and will re-open for an abbreviated session on Friday, with trading closing at 12:05 p.m. CST.
WHEAT - Up 1 cent to down 3 cents per bushel
* Wheat was mixed as crop prospects improved in key production zones, but a falling dollar supported prices, traders said.
* The U.S. dollar .DXY fell to a one-week low against major peers, making U.S. exports more competitive on the world market.
* Supplies were aided by U.S winter wheat conditions improving, rains easing drought in the Black Sea and drier weather in western Europe helping farmers catch up with sowing, traders said.
* The U.S. winter wheat crop, except that in the far Southern Plains and the Southeast, has likely entered dormancy, according to Commodity Weather Group.
* CBOT March soft red winter wheat WH25 was last down 2-3/4 cents to $5.55-1/4 per bushel. K.C. March hard red winter wheat KWH25 was down 1-3/4 cents at $5.57 a bushel and Minneapolis March spring wheat MWEH25 was last up 1/4 cent at $6.01-3/4 a bushel.
CORN - Up 1 to 2 cents per bushel
* Corn gained ground as the dollar dropped and traders squared positions ahead of the upcoming U.S. Thanksgiving holiday.
* Taiwan's MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in an international tender.
* Showers forecast for South America continued to benefit corn crop development, according to Commodity Weather Group.
* CBOT March corn CH25 was last up 2 cents at $4.30 per bushel.
SOYBEANS - Up 4 to 7 cents per bushel
* Soybeans advanced as traders assessed the impacts of potential tariffs supported by U.S. President-elect Donald Trump on imports from Canada, Mexico and China.
* The 25% tariff on Canadian imports opened up the possibility that imports of canola oil could be replaced by domestic soyoil as a feedstock for the growing biodiesel market, according to traders.
* Showers in soybean growing areas of South America kept a ceiling on prices.
* The U.S. Department of Agriculture reported exporters sold 132,000 metric tons of soybeans to China for 2024/2025 delivery.
* January soybeans SF25 were last up 6-3/4 cents at $9.90-1/4 per bushel.
Reporting by Renee Hickman
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