CBOT Trends-Wheat down 5-8 cents, corn down 1-2, soy down 5-6 cents

By Reuters News

CHICAGO, Oct 16 (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 - Down 5 to 8 cents per bushel

  • CBOT wheat futures fell to a two-month low on Friday as a recovery in Russian wheat exports weighed on prices, analysts said. GRA/

  • The wheat market has shown little reaction this week to further attacks on ships in the Black Sea, with traders focused on signs that Russia was expanding wheat shipments through the Baltic Sea.

  • The US Department of Agriculture reported net weekly export sales of wheat at 319,900 metric tons in the current marketing year for the week ended October 8.

  • CBOT December soft red winter wheat was last down 7-1/2 cents at $6.62-1/2 per bushel. K.C. December hard red winter wheat was last down 6-1/2 cents at $7.06-1/2 per bushel, and Minneapolis December spring wheat last traded 1-1/4 cent lower at $6.84-3/4 per bushel.


CORN - Down 1 to 2 cents per bushel

  • CBOT corn ticked down on pressure from the US corn harvest.

  • The corn market remained pressured by last Friday's unexpected increase to the USDA's forecast of this year's US corn production. GRA/

  • The USDA reported net weekly export sales of corn at 1,122,400 metric tons in the current marketing year for the week ended October 8.

  • CBOT December corn last traded down 1-3/4 cents at $4.76-1/4 per bushel.

SOYBEANS - Down 5 to 6 cents per bushel

  • CBOT soybeans extended their decline to a new seven-week low as the US harvest progressed with an expected record volume, which took attention away from renewed Chinese purchases.

  • A drier end to the week in the Midwest is expected to let farmers step up harvesting again after they made swift progress last week, according to forecasters.

  • The US soybean harvest was 46% complete as of Sunday, compared to analysts' estimates of 44%.

  • The USDA reported net weekly export sales of soybeans at 574,000 metric tons in the current marketing year for the week ended October 8.

  • CBOT November soybeans were last down 5-3/4 cents at $12.57-1/4 per bushel.

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