Corn up 3-5 cents, wheat steady-up 2 cents, soy mixed
Following are U.S. trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Friday.
WHEAT - Steady to up 2 cents a bushel
* Wheat firming on mild round of short covering, bargain buying ahead of USDA reports.
* Benchmark CBOT March soft red winter wheat contract (WH3) found support at its five-day moving average during the overnight trading session.
* CBOT March soft red winter wheat contract (WH3) ended overnight trading up 3/4 cent at $7.47-3/4 a bushel. K.C. March hard red winter wheat (KWH3) gained 1 cent to $8.45-3/4 and MGEX March spring wheat (MWEH3) dipped 1/2 cent to $9.09.
CORN - Up 3 to 5 cents a bushel
* Corn firming as traders stake out positions ahead of USDA reports.
* Traders say corn market seen as technically oversold after sinking to lowest since Aug. 23 on Tuesday.
* CBOT March corn (CH3) gained 4-1/2 cents to $6.47 a bushel overnight.
SOYBEANS - Mixed, up 2 cents to down 2 cents a bushel
* Soybeans steadying after most-active contract ZS1! rose to its highest since Sept. 13 during overnight trading.
* Strong exports, strength in soymeal underpin soybean prices.
* Soymeal futures (SMv1) have rallied for seven sessions in a row and hit an eight-month high overnight on the unwinding of long soyoil/short soymeal spreads, strong exports.
* CBOT January soybeans (SF3) last traded down 1 cent at $14.85-1/4 a bushel.