CBOT Trends-Wheat up 3-5 cents, corn up 1-3 cents, soy down 2-4 cents
CHICAGO, Oct 1 (Reuters) - The following are expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday.
WHEAT - Up 3 to 5 cents per bushel
CBOT wheat futures turned higher in early moves, rebounding from a six-week low in the benchmark December contract on a pickup in global export business including news of a large import tender from Saudi Arabia, traders said.
Saudi Arabia's state grain buying agency issued an international tender to purchase an estimated 535,000 metric tons of milling wheat, European traders said.
Buyers in Taiwan, Tunisia and Jordan were also seeking wheat on the world market, and a South Korean milling group bought US wheat this week, European traders said. GRA/TEND
The US Department of Agriculture reported net export sales of US 2026/27 wheat in the week ended September 24 at 289,300 metric tons, near the low end of trade expectations for 250,000 to 450,000 tons.
Rallies capped by strength in the dollar .DXY this week and beneficial moisture in the US Plains winter wheat belt.
CBOT December soft red winter wheat was last up 4-1/2 cents at $6.80-1/4 per bushel. K.C. December hard red winter wheat was last up 7-1/4 cents to $7.40-1/4 a bushel. Minneapolis December spring wheat was last up 6-3/4 cents at $7.00 a bushel.
CORN - Up 1 to 3 cents per bushel
CBOT corn futures rallied on bargain-buying and consolidation after the most-active December contract fell to a six-week low in early moves. Market players eyed psychological support at the $5-per-bushel mark.
Traders continue to digest Wednesday's larger-than-expected USDA quarterly US corn stocks figure.
The USDA reported net export sales of US corn in the week ended September 24 at 536,000 metric tons, near the low end of trade expectations for 500,000 to 1,300,000 tons.
CBOT December corn was last up 1-1/2 cents at $5.02-1/4 per bushel.
SOYBEANS - Down 2 to 4 cents per bushel
CBOT soybean futures ticked lower in featureless trade, with forecasts for improving harvest weather in the US Midwest feeding bearish sentiment.
Managed commodity funds held a massive net long position in CBOT soybean futures as of September 22, US regulatory data showed, leaving the market prone to bouts of long liquidation.
The USDA reported net export sales of US soybeans in the week to September 24 at 1,033,500 metric tons, topping a range of trade expectations for 850,000 to 1,000,000 tons.
Ahead of monthly USDA crushing data due later on Thursday, analysts surveyed by Reuters on average expected the government to report that US processors crushed 210.5 million bushels of soybeans in August, an 11-month low.
The CBOT reported 50 deliveries against the October soyoil contract on first notice day and one lot delivered against October soymeal futures.
CBOT November soybeans were last down 3-1/2 cents at $12.89-1/2 per bushel.