CBOT Trends-Wheat up 1-3 cents, corn down 2-3 cents, soy down 5-7 cents

By Reuters News

CHICAGO, Oct 2 (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 3 cents per bushel

  • CBOT wheat futures firmed in early moves on consolidation and bargain-buying one day after the benchmark December contract hit a seven-week low. A flurry of export tenders this week including a Saudi Arabian import tender boosted demand sentiment.

  • A lack of progress in diplomatic efforts to restore normal shipping through the Black Sea also underpinned wheat prices. Russian President Vladimir Putin on Thursday rejected proposals for a truce in Black Sea attacks.

  • CBOT December soft red winter wheat was last up 3 cents at $6.85-3/4 per bushel. K.C. December hard red winter wheat was last down 1/4 cent at $7.37-1/4 a bushel. Minneapolis December spring wheat was last up 2 cents at $6.98-3/4 a bushel.

CORN - Down 2 to 3 cents per bushel

  • CBOT corn futures trended lower on lingering pressure from Wednesday's larger-than-expected USDA quarterly US corn stocks figure and forecasts for improving weather in the US Midwest that should promote harvest activity after a rainy week.

  • Commodity brokerage StoneX on Thursday lowered its estimate of the average US 2026 corn yield to 182.1 bushels per acre (bpa) from 182.9 in its previous monthly report released on September 8.

  • The US Department of Agriculture confirmed private sales of 218,600 metric tons of US corn to Mexico.

  • CBOT December corn was last down 2-3/4 cents at $4.99-1/2 per bushel.

SOYBEANS - Down 5 to 7 cents per bushel

  • CBOT soybean futures declined on outlooks for improving US harvest weather and a lack of supportive news at a time when large speculators hold a huge net long position, leaving the market prone to bouts of long liquidation.

  • Commodity brokerage StoneX on Thursday raised its estimate of the average US 2026 soybean yield to 54.1 bushels per acre, from its September estimate of 53.0 bpa.

  • The CBOT reported no deliveries against the October soyoil and soymeal futures contracts.

  • CBOT November soybeans were last down 7 cents at $12.77 per bushel.

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