CBOT Trends-Wheat up 5-7 cents, corn up 3-5, soy up 4-9
CHICAGO, July 17 (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.
WHEAT - Up 5 to 7 cents per bushel
* CBOT wheat Wv1 rebounds on an influx of demand from importers after sliding for three straight sessions.
* The advancing U.S. wheat harvest and improving yields from top-exporter Russia continue to weigh on the market.
* Traders are monitoring harvest results in Russia as field work reaches zones worst affected by drought and frosts.
* CBOT September soft red winter wheat WU24 was last up 7-3/4 cents at $5.38-1/2 per bushel. K.C. September hard red winter wheat KWU24 was last up 10-1/4 cents at $5.60-1/2 per bushel. MGEX September spring wheat MWEU24 was up 9-3/4 cents $5.85-1/2 per bushel.
CORN - Up 3 to 5 cents per bushel
* CBOT corn prices tick up as traders assess the impact of high winds and drenching rains in parts of the U.S. Midwest, as well as the drought-affected corn crop in the Black Sea region.
* Ukraine's 2024 corn yield could fall by 30%-35% because of extreme heat and drought, the Ukrainian Agrarian Council said on Tuesday.
* Taiwan's MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced from the United States in a tender on Wednesday, European traders said.
* CBOT September corn CU24 was last up 4 cents at $3.99-3/4 per bushel, and new-crop December corn CZ24 was last up 3-3/4 cents at $4.12-1/2 per bushel.
SOYBEANS - Up 4 to 9 cents per bushel
* Most-active soybeans Sv1 gain ground on a technical bounce after sinking near four-year lows and hitting life-of-contract lows in previous sessions.
* Hefty global supplies continue to pressure the market, though recent Midwest storms lend support to prices, analysts said.
* Condition ratings for U.S. soy and corn crops, issued on Monday, were the highest for this time of year since 2020 following favorable weather.
* CBOT August soybeans SQ24 were last 9-1/2 cents at $11 a bushel, while November soybeans SX24 were last up 4-1/4 cents at $10.47-1/2 per bushel.
Reporting by Heather Schlitz
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