CBOT Trends-Wheat up 3-6 cents, corn up 1-3 cents, soy up 5-8 cents

By Reuters News

CHICAGO, Sept 30 (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 Wednesday.

NOTE: The US Department of Agriculture is scheduled to release its quarterly US grain stocks and annual small grains reports at 11 a.m. CDT (1600 GMT).

WHEAT - Up 3 to 6 cents per bushel

  • CBOT wheat futures rose in early moves, rebounding from Tuesday's six-week low as traders adjusted positions ahead of the USDA's small grains and quarterly stocks reports.

  • Grain consultancy SovEcon cut its forecast for Russia's 2026/27 grain exports to 44.7 million metric tons, down from 49.4 million tons previously, citing disruptions to exports from Russia's southern ports.

  • A state agency in Pakistan bought an estimated 180,000 metric tons of wheat in an international tender which closed this week, European traders said.

  • Ahead of the USDA's small grains reports on Wednesday, analysts surveyed by Reuters on average expected the government to trim its estimate of the 2026 US wheat harvest to 1.524 billion bushels, from 1.531 billion previously.

  • CBOT December soft red winter wheat was last up 5-3/4 cents at $6.98-1/2 per bushel. K.C. December hard red winter wheat was last up 7-1/4 cents to $7.50-1/4 a bushel. Minneapolis December spring wheat was last up 5-3/4 cent at $7.05 a bushel.

CORN - Up 1 to 3 cents per bushel

  • CBOT corn futures firmed in range-bound trade as market players positioned for USDA's quarterly stocks report, which has a history of jolting markets. Rains continued to slow harvesting in the US Corn Belt but forecasts called for drier weather after Friday.

  • Ahead of the USDA's quarterly grain stocks report, analysts surveyed by Reuters on average expected the government to peg US September 1 corn stocks at 1.918 billion bushels, a six-year high but slightly below the 1.922 billion bushels that the USDA projected for 2025/26 corn ending stocks in its last monthly supply/demand report.

  • CBOT December corn was last up 2-3/4 cents at $5.24-3/4 per bushel.

SOYBEANS - Up 5 to 8 cents per bushel

  • CBOT soybean futures headed higher on bargain-buying after Monday's one-month low and positioning ahead of the USDA's quarterly stocks report. Additional support stemmed from harvest delays in key Midwest states including Iowa, although forecasters predicted improving weather after Friday.

  • Under its daily reporting rules, the USDA confirmed private sales of 105,000 metric tons of US soybeans to unknown destinations for delivery in the 2026/27 marketing year that began September 1.

  • For the USDA's quarterly stocks report, the average analyst estimate for September 1 soybean stocks, at 324 million bushels, would be nearly unchanged from a year ago and close to the 325 million bushels that the USDA most recently projected as 2025/26 ending stocks.

  • CBOT November soybeans were last up 7-1/2 cents at $13.05-1/4 per bushel.

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