CBOT Trends-Wheat down 2-3 cents, corn down 3-4, soy down 8-9
CHICAGO, Aug 16 (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 Friday.
WHEAT - Down 2 to 3 cents per bushel
* Wheat down as competition from Black Sea wheat crops continues to weigh on U.S. wheat exports, though a worse-than-expected crop in Germany and France helped keep a floor under prices.
* French farmers have almost finished harvesting this year's soft wheat crop, which is expected to be the smallest since the 1980s.
* Germany's 2024 wheat crop is expected to fall 12.8% to 18.76 million metric tons as crops suffered from repeated harvest-time rain, the country's association of farm cooperatives said on Friday.
* The International Grains Council trimmed its forecast for 2024/25 global wheat production, mainly due to a downgrade for French output.
* CBOT September soft red winter wheat WU24 was last down 3-1/2 cents at $5.24-3/4 per bushel. K.C. September hard red winter wheat KWU24 was last down 2-3/4 cents at $5.34-1/4 per bushel, and MGEX September spring wheat MWEU24 was last down 1-3/4 cents at $5.84-1/2 per bushel.
CORN - Down 3 to 4 cents per bushel
* CBOT corn Cv1 down as record yield forecasts in the U.S. and continued farmer selling weighed on prices.
* Forecasted rain showers followed by dryer weather in the U.S. Midwest are expected to be beneficial to the region's corn crop, an analyst note said.
* Traders are consolidating positions ahead of the upcoming week's ProFarmer tour, which is expected to record a bumper corn crop.
* Corn futures felt some pressure from renewed concern about China's economy, which pushed crude oil lower. O/R
* CBOT December corn CZ24 was last down 4-3/4 cents at $3.92-1/4 per bushel.
SOYBEANS - Down 8 to 9 cents per bushel
* Soybeans down as expectations of a record crop and bearish sentiment ahead of the ProFarmer crop tour hang over the market.
* The soybean market is set for its third weekly drop, as sluggish demand from top importer China also weigh on prices.
* A weaker dollar and higher-than-expected weekly U.S. soybean export sales helped prices recover mid-week.
* Soybean futures also felt pressure from renewed concern about China's economy, which pushed crude oil lower. O/R
* CBOT November soybeans SX24 were last down 8 cents at $9.60-1/2 per bushel.
Reporting by Heather Schlitz
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