CBOT Early Calls-Wheat up 1, corn down 1, soy up 1-2
Dec 20 (Reuters) - Following are U.S. trade expectations for
the opening of the Chicago Board of Trade grain and soy complex
WHEAT - Up 1/2 to 1 cent per bushel
Short-covering after the market's fall to a fresh 19-month
low. Gains limited by an abundant global supply of wheat and a
turn to crop-friendly weather in the U.S. winter wheat region.
CBOT March last up 1/2 cent, KCBT March
up 2, and MGEX March up 1.
CORN - Down 1/2 to 1 cent per bushel
Choppy two-sided trading expected, with weight on the market
stemming from a large global stockpile of corn following a
record 2013 U.S. corn harvest. Concern about the fate of U.S.
export sales to China also lending pressure. China has been
rejecting U.S. corn cargoes due to the detection of an
unapproved GMO variety. March corn last down 1 cent.
SOYBEANS - Up 1 to 2 cents per bushel
Heat and dry weather in Argentina leading to mounting
concerns about possible reductions in soy output early next
year. Technical buying and a modest bout of
short-covering near the January contract's one-month low also
supportive, but traders cited a lack of bullish momentum. CBOT
January soy last up 2 cents.
(Reporting by Sam Nelson; Editing by John Wallace)