CHICAGO, June 13 (Reuters) - The 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 Friday:
WHEAT - Up 2 to 5 cents per bushel
CBOT wheat ticked up as rain in the U.S. Plains delayed harvests, but large crops are expected in the U.S., Europe and Russia, according to analysts.
Weather forecaster Commodity Weather Group predicted "monsoonal showers" would hinder the harvest in the U.S. Central Plains in the next 16-30 days.
Tunisia is receiving offers in its 75,000 metric ton soft wheat tender, traders say.
CBOT July soft red winter wheat WN25 was last up 4-1/4 cents at $5.30-3/4 per bushel. K.C. July hard red winter wheat KWN25 rose 2-1/2 cents to $5.25-14 per bushel, and Minneapolis July spring wheat MWEN25 gained 1 cent to $6.21-3/4 per bushel.
CORN - Down 1 to 3 cents
CBOT corn headed lower amid favorable growing weather in the U.S.
The market shrugged off U.S. Department of Agriculture data lowering the forecast of U.S. 2024/25 corn ending stocks to 1.365 billion bushels, down from 1.415 billion in May and below an average of analyst expectations, reflecting an increased estimate of 2024/25 corn exports.
A warm showery pattern is expected to reach dry spots in U.S. Midwest corn in the coming weeks, according to Commodity Weather Group.
CBOT July corn CN25 fell 2-1/4 cents at $4.36-1/4 per bushel.
SOYBEANS - Up 2 to 5 cents
CBOT soybeans Sv1 firmed on a jump in crude oil prices after Israel conducted strikes on Iran, though the oilseed market was capped by uncertainty over U.S. biofuel targets and expectations of abundant global supply.
Oil prices jumped over $5 on Friday to multi-month highs after Israel launched strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies. Rising oil prices tend to make soy biodiesel more attractive, analysts said.
The U.S. Environmental Protection Agency on Friday will propose new biofuel blending requirements for oil refiners for the coming two years that will likely include a lower biomass-based diesel mandate than industry groups had requested, according to four sources familiar with the matter.
Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil.
July soybeans SN25 were last up 4-1/4 cents at $10.46-1/2 per bushel.
(Reporting by Renee Hickman in Chicago; Editing by Shreya Biswas)
((renee.hickman@thomsonreuters.com))
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