CBOT Trends-Wheat up 8-13 cents, corn up 2-6, soybeans up 1-4

Reuters
03-17
CBOT Trends-Wheat up 8-13 cents, corn up 2-6, soybeans up 1-4

CHICAGO, March 17 (Reuters) - Following are U.S. 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 Monday.

WHEAT - Up 8 to 13 cents a bushel

* Wheat higher on dry weather in the U.S. Plains and other production areas in the Northern hemisphere. A weaker U.S. dollar adding support.

* Actively traded CBOT May wheat WK25 rose to a three-week high in overnight trading but hit overhead chart resistance at its 20-, 50- and 100-day moving averages.

* Dryness is expected to expand to cover the southern half of the U.S. Plains wheat belt, with strong winds early this week causing soil erosion and further stress to the crop, according to Commodity Weather Group.

* CBOT May soft red winter wheat WK25 was last up 12 cents at $5.69 per bushel. K.C. May hard red winter wheat KWK25 was last up 16-1/2 cents at $6.02-1/2 per bushel, and Minneapolis May spring wheat MWEK25 was up 12 cents at $6.13-3/4 per bushel.

CORN - Up 2 to 6 cents a bushel

* Corn futures rise on dollar weakness and spillover support from higher wheat. Gains capped by worries that tit-for-tat tariff disputes will curb U.S. agricultural exports.

* CBOT May corn CK25 was last up 5-1/2 cents at $4.64 per bushel.

SOYBEANS - Up 1 to 4 cents a bushel

* Soybeans firm on spillover support from higher wheat markets. Gains capped by rising South American supplies and on concerns that tariff disputes would reduce demand for U.S. soy.

* The National Oilseed Processors Association is due to release its February crush report later on Monday. The crush is expected at 185.229 million bushels, according to an average of 10 analysts polled by Reuters.

* Brazil's soybean harvest reached 70% of the planted area as of last Thursday, AgRural said on Monday. It is the strongest pace for this time of year in at least 14 years.

* CBOT May soybeans SK25 were last up 1-1/2 cents at $10.17-1/2 per bushel.

(Reporting by Karl Plume in Chicago; Editing by Lisa Shumaker)

((karl.plume@thomsonreuters.com; +1 313 484 5285))

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