CBOT Trends-Soy up 11-16 cents, corn up 3-5 cents, wheat steady-up 1 cent
CHICAGO, July 22 (Reuters) -Following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.
WHEAT - Steady to up 1 cent per bushel
* Wheat futures seen steady to firm on uncertainty about crop prospects in Europe and the Black Sea region, but CBOT futures pared gains ahead of the daily pause in trade.
* MGEX spring wheat futures MWEU24 supported by worries about hot weather in Canada's crop belt.
* CBOT September soft red winter wheat WU24 was last up 1/2 cent at $5.43-1/4 per bushel. K.C. September hard red winter wheat KWU24 was last down 1 cent at $5.69 per bushel. MGEX September spring wheat MWEU24 was last up 5-3/4 cents at $6.15-1/2 per bushel.
CORN - Up 3 to 5 cents per bushel
* CBOT corn futures head higher on short-covering and spillover strength from soybeans. Commodity funds hold a sizable net short position in CBOT corn futures, leaving the market prone to bouts of short-covering. Rallies capped by largely favorable crop weather in the U.S. Midwest.
* The U.S. Department of Agriculture confirmed private sales of 130,000 metric tons of new-crop U.S. corn to Mexico.
* European Union crop monitoring service MARS cut most of its forecasts for average grain yields in the EU this year, with the sharpest drop for maize and sunflower which suffered from hot and dry weather in the southeastern part of the bloc.
* CBOT September corn CU24 was last up 3-3/4 cents at $3.94-1/4 per bushel, and new-crop December corn CZ24 was last up 4-1/4 cents at $4.09.
SOYBEANS - Up 11 to 16 cents per bushel
* Soybean futures head higher in a rebound from near four-year lows set last week, buoyed by short-covering. Some traders noted the decision by President Joe Biden to pull out of the U.S. election, raising uncertainty about a Donald Trump election victory that could renew a trade war with top global soy buyer China.
* Rallies capped by benign crop weather in the U.S. Midwest.
* CBOT August soybeans SQ24 were last up 11-1/4 cents at $11.08-1/2 per bushel and November soybeans SX24 were last up 16-1/4 cents at $10.52-1/4.
Reporting by Julie Ingwersen
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