CBOT Trends-Wheat up 1-2 cents, soy up 2-3 cents, corn steady-down 1 cent

By Reuters News

CHICAGO, Oct 23 (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 Friday.

WHEAT - Up 1 to 2 cents per bushel

  • CBOT wheat firmed as the market consolidated above three-month lows set this week. Futures had faced pressure in recent days as a round of US-led diplomacy aimed at ending Russia's war with Ukraine raised hopes of a revival of Black Sea grain trade, but attacks have continued, including a drone strike that sank a cargo ship off the Romanian Black Sea coast.

  • CBOT December soft red winter wheat was last up 1-3/4 cents at $6.26-1/2 per bushel. K.C. December hard red winter wheat was last up 1/4 cent at $6.66 per bushel, and Minneapolis December spring wheat was last up 4-1/4 cents at $6.46 per bushel.

CORN - Steady to down 1 cent per bushel

  • CBOT corn drifted lower in early moves, pressured by the advancing US harvest, but the benchmark December contract stayed above a three-month low set at mid-week. Strength in crude oil lent underlying support.

  • The US Department of Agriculture confirmed private sales of 116,000 metric tons of US corn to unknown destinations.

  • CBOT December corn was last down 1 cent at $4.59-1/2 per bushel.

SOYBEANS - Up 2 to 3 cents per bushel

  • CBOT soybeans rose in range-bound trade as support from a flurry of recent export sales to China offset pressure from the advancing US soybean harvest. The most-active November contract stayed inside of Thursday's trading range in early moves.

  • Some US farmers were finishing their soybean harvest after a stretch of favorable Midwest weather and were shifting to harvesting corn, merchandisers said.

  • CBOT November soybeans were last up 2 cents at $12.55 per bushel.

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