IKAR in Mass and Industry Media

CBOT trends - wheat up 15-20 cents, corn down 3-5 cents, soy down 5-6 cents

Reuters

CHICAGO, April 20 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Monday.

WHEAT - Up 15 cents to 20 cents per bushel

* Wheat futures rallying on concerns that dry weather will limit production in the Black Sea and Russia. Export curbs in Russia also providing support.

* Agriculture consultancy IKAR on Monday said it had cut its forecast for Russia's 2020 wheat crop to 77.2 million from 79.5 million tonnes.

* Benchmark CBOT May soft red winter wheat contract rose above its 30-day, 40-day, 50-day and 100-day moving averages during the overnight trading session.

* CBOT May soft red winter wheat last traded up 15 cents at $5.48-1/2 per bushel. K.C. May hard red winter wheat was last up 15-1/4 cents at $4.94 and MGEX May spring wheat was last 13-1/2 cents higher at $5.20-1/4.

CORN - Down 3 cents to 5 cents bushel

* Corn futures easing on expectations for pick-up in planting in western U.S. Midwest this week.

* CBOT May corn last traded down 3-3/4 cents at $3.18-1/2 per bushel, just above its session low of $3.18.

SOYBEANS - Down 5 cents to 6 cents per bushel

* Soybean futures under pressure from falling crude oil prices.

* Oil prices fell on Monday, with a U.S. crude futures contract hitting its lowest level since 1998, as concerns that U.S. crude storage will soon be full and bleak economic data hit sentiment.

* On a continuous basis, most-active soybean futures contract hit its lowest since March 19 overnight.

* Support for benchmark May soybean futures contract noted at low end of 20-day Bollinger range.

* CBOT May soybeans last traded down 5-1/2 cents at $8.27 per bushel, 1/2 cent above its overnight low.

20.04.20

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