CBOT Trends - Soy up 4-5 cents; wheat, corn up 1-2 cents

14 Sep 2020, 13:11

CHICAGO, Sept 14 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Up 1 cent to 2 cents per bushel

* Wheat futures seen slightly higher on bargain buying after falling for six of the previous seven sessions.

* CBOT December soft red winter wheat hit resistance at its five-day moving average overnight. Prices found support at Friday's low of $5.39-3/4.

* The CBOT reported 24 deliveries against Chicago September soft red winter wheat futures. There were eight K.C. September hard red winter wheat deliveries.

* CBOT December soft red winter wheat last traded up 1 cent at $5.43 per bushel. K.C. December hard red winter wheat was last 1-3/4 cents higher at $4.73 a bushel. MGEX December spring wheat was last up 1-1/2 cents at $5.33-3/4 a bushel.

CORN - Up 1 cent to 2 cents per bushel

* Corn futures hit six-month high overnight, supported by strong export demand and concerns about crop shortfalls in U.S. Midwest.

* Private exporters reported the sale of 350,000 tonnes of corn to China and 106,000 tonnes of corn to unknown destinations, the U.S. Agriculture Department said. USDA also said that a previous sale of 140,000 tonnes of corn to unknown destinations has been corrected to 140,000 tonnes of corn to China.

* The CBOT reported zero deliveries against September corn futures.

* CBOT December corn last traded up 1-1/2 cents at $3.70 per bushel.

SOYBEANS - Up 4 cents to 5 cents per bushel

* Most-active soybean futures contract rose above the $10 a bushel level for the first time since June 6, 2018 overnight, with the market underpinned by expectations of continued strong demand from China.

* Benchmark CBOT November soybeans failed to hold support above the high end of its 20-day Bollinger range.

* Private exporters reported the sale of 129,000 tones of soybeans to China and 318,000 tonnes of soybeans to unknown destinations, USDA said.

* The CBOT reported two deliveries against CBOT September soybean futures, along with 29 September soymeal deliveries and 98 September soyoil deliveries.

* CBOT November soybeans last traded up 4 cents at $10.03-3/4 per bushel. (Reporting by Mark Weinraub Editing by Paul Simao)