CBOT Trends-Wheat up 6-8 cents, corn steady-down 1, soybeans up 1-3
Nov 26 (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 Tuesday:
WHEAT - Up 6 to 8 cents per bushel
* A drop in the U.S. dollar .DXY supported CBOT wheat, making U.S. exports more competitive to holders of other currencies.
* U.S. winter wheat crop conditions rose by more than expected after timely precipitation fell across the Plains this month, according to weekly U.S. Department of Agriculture (USDA) crop conditions data released late Monday.
* Ukraine's weather in November was mostly favorable for the development of winter grain crops, including winter wheat, but some of the seedlings are still underdeveloped due to a long drought, analyst APK-Inform quoted state weather forecasters as saying on Tuesday.
* CBOT December soft red winter wheat WZ24 was last up 6 cents to $5.41-3/4 per bushel. K.C. December hard red winter wheat KWZ24 was up 7-3/4 cents at $5.54-1/4 a bushel and Minneapolis December spring wheat MWEZ24 was last up 5 cents at $5.86 a bushel.
CORN - Steady to down 1 cent per bushel
* Corn eased slightly as U.S. president-elect Donald Trump promised tariffs against Mexico, sparking fears of retaliation from the major importer of U.S. corn.
* Showers forecast for South America continued to aid the growth of the corn crop, according to Commodity Weather Group.
* CBOT December corn CZ24 last down 1/2 cent at $4.24-1/4 per bushel.
SOYBEANS - Up 1 to 3 cents per bushel
* Soybeans advanced, supported by gains in soyoil, as Donald Trump announced that he would pursue tariffs against Canada, creating the possibility of some Canadian canola oil being replaced by U.S. soyoil as a feedstock for the growing renewable diesel sector, according to traders.
* Gains capped by beneficial showers forecast for soybean-growing areas of South America.
* January soybeans SF25 were last up 1-1/2 cents at $9.87-1/4 per bushel.
Reporting by Renee Hickman
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