CBOT Trends-Wheat up 2-3 cents, corn up 1-2, soy up 6-7
CHICAGO, Sept 11 (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 Wednesday.
NOTE: Traders await Thursday's monthly supply/demand reports from the U.S. Department of Agriculture.
CBOT September futures contracts expire on Friday
WHEAT - Up 2 to 3 cents per bushel
* Chicago wheat rises on signs that supply pressure from the Black Sea export region may be easing.
* Russia's Rostov region will export less grain this year due to extreme weather and the sudden market exit of a major grain trader that previously exported nearly half of the region's grain, a regional governor said on Wednesday.
* Meanwhile, Ukraine's domestic and export wheat prices are likely to rise in the coming weeks due to much smaller wheat stocks, which could make U.S. wheat more competitive.
* CBOT December soft red winter wheat WZ24 was last up 2-3/4 cents to $5.77 a bushel. K.C. December hard red winter wheat KWZ24 was last up 1-1/2 cents to $5.85-1/2 a bushel, while MGEX December spring wheat MWEZ24 was last up 4 cents at $6.13-3/4 a bushel.
CORN - Up 1 to 2 cents per bushel
* Chicago corn futures tick up on positioning during the run-up to the USDA's monthly supply and demand report set to be released on Thursday.
* A steadying in crude oil and an easing in the dollar lent some support to grains.
* CBOT December corn CZ24 was up 2-1/2 cents to $4.06-3/4 per bushel.
SOYBEANS - Up 6 to 7 cents per bushel
* Chicago soy futures up on short covering ahead of Thursday's USDA report where the agency will assess whether a dry end to summer has trimmed U.S. soy yield potential.
* Analysts surveyed by Reuters ahead of the USDA report on average expect the agency to leave its U.S. 2024 soybean yield forecast unchanged and reduce slightly its corn yield estimate.
* CBOT November soybeans SX24 were last up 7 cents to $10.04-1/2 per bushel.
Reporting by Heather Schlitz; Editing by Jan Harvey
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
