CBOT Trends-Wheat up 2-4 cents, corn steady-up 1, soybeans up 3-4 cents
CHICAGO, Sept 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 Tuesday.
WHEAT - Up 2 to 4 cents per bushel
* CBOT wheat futures head higher on bargain buying a day after Monday's 2.7% slide in the benchmark December WZ24 contract. A softer dollar .DXY lends support, making U.S. grains more competitive globally. But strong export competition from Black Sea-origin supplies hangs over the market, capping rallies.
* The Sovecon consultancy raised its forecast for Russia's 2024 wheat crop to 82.9 million metric tons, from 82.5 million tons previously, citing higher expected yields.
* France's farm ministry lowered its estimate of the country's 2024 soft wheat output to 25.78 million metric tons, from 26.32 million last month and the lowest volume since 1986, following excessively wet weather.
* The U.S. Department of Agriculture (USDA) late on Monday said the U.S. winter wheat crop was 14% planted, ahead of the average analyst estimate of 13% and the five-year average, also 13%. The U.S. spring wheat harvest was 92% complete, ahead of the five-year average of 90%, the USDA said. US/WHE
* CBOT December soft red winter wheat WZ24 was last up 2-3/4 cents at $5.81-1/4 a bushel. K.C. December hard red winter wheat KWZ24 was last up 3 cents at $5.83-1/2 a bushel, and MGEX December spring wheat MWEZ24 was last up 4-1/2 cents at $6.24-1/4 a bushel.
CORN - Steady to up 1 cent per bushel
* Corn futures seen flat to firmer in range-bound trade as support from a softer dollar USD/ and strength in wheat and soy futures offsets seasonal pressure. U.S. farmers have begun harvesting what is projected to be the second-largest corn crop on record.
* The USDA late on Monday said the U.S. corn harvest was 9% complete, ahead of the five-year average of 6%. The government rated 65% of the corn crop in good to excellent condition, up 1 percentage point from last week while analysts surveyed by Reuters on average had expected a decline. US/COR
* Brazil's national statistics agency Conab forecast the country's 2024/25 total corn crop at 119.8 million metric tons, a 3.6% year-on-year increase, but noted that exports would likely decrease.
* CBOT December corn CZ24 was last up 1/2 cent at $4.11-1/4 per bushel.
SOYBEANS - Up 3 to 4 cents per bushel
* Soybean futures head higher on bargain-buying after a two-session decline, but rallies are capped by seasonal pressure as producers start to harvest what is projected to be a record-large U.S. soybean crop.
* Brazil's national statistics agency Conab forecast the South American country's 2024/25 soybean crop at 166.28 million metric tons, up 12.8% from the previous season.
* The USDA late on Monday said the U.S. soybean harvest was 6% complete, ahead of the five-year average of 3%. The government rated 64% of the soybean crop as good to excellent, down 1 percentage point from last week and in line with trade expectations. US/SOY
* Traders are still digesting Monday's monthly crush report from the National Oilseed Processors Association, which said that its U.S. members crushed 158.008 million bushels of soybeans last month, below all trade estimates and the lowest since September 2021.
* CBOT November soybeans SX24 were last up 3-3/4 cents at $10.08-1/4 per bushel.
Reporting by Julie Ingwersen
Eng oxirgi yangiliklar
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