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CBOT Trends - Wheat steady-up 2 cents, corn up 1-3 cents, wheat steady-down 2 cents

Reuters, 08.10.19

CHICAGO, Oct 7 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Steady to down 2 cents per bushel

* Wheat futures facing pressure after Russia's Institute for Agricultural Market Studies raised its forecast for the country's 2019 wheat crop to 75.4 million tonnes.

* The benchmark CBOT December soft red winter wheat contract failed to hold support above its five-day moving average during the overnight trading session.

* CBOT December soft red winter wheat last traded unchanged at $4.90-1/2 per bushel. K.C. December hard red winter wheat was down 1/2 cent at $4.03-1/2 a bushel and MGEX December spring wheat was up 3/4 cent at $5.36-3/4.

CORN - Up 1 cent to 3 cents per bushel

* Corn futures receiving support from forecasts for wintry weather in western and northern stretches of the U.S. Midwest that could slow harvest. Market moves seen muted ahead of U.S. Agriculture Department's monthly World Agriculture Supply and Demand Estimates report on Thursday.

* CBOT December corn last traded up 1-1/4 cents at $3.86 per bushel.

SOYBEANS - Steady to up 2 cents per bushel

* Consolidation trade expected as market waits for USDA's monthly report. Traders say investors looking for signs of progress in U.S.-China trade talks before pushing prices above 2-1/2-month high on Friday.

* The U.S. Agriculture Department on Monday morning said that private exporters reported the sale of 198,000 tonnes of soybeans to China for delivery in the 2019/20 marketing year. Another sale of 240,000 tonnes of soybeans was reported for delivery to unknown destinations.

* CBOT November soybeans last traded unchanged at $9.16-1/4 per bushel.

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