CHICAGO, May 31 (Reuters) – Here are U.S. trade expectations for the resumption of complex grain and soybean trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Tuesday.
WHEAT – Down 25 to 30 cents
* Wheat sinks after Russian President Vladimir Putin said he was ready to allow shipments of grain that had been stuck in Ukrainian ports since Russia invaded Ukraine in February.
* July CBOT reference contract soft red winter wheat
fell below its 20-day moving average during the overnight trading session.
* CBOT July Soft Red Winter Wheat
CORN – Down 5 to 7 cents per bushel
* Wheat weakness weighs on the corn market, with traders focusing on the U.S. Department of Agriculture’s report on crop progress and conditions to be released after the close.
* The market expected good conditions across much of the U.S. Midwest last week to allow growers to plant enough corn to bring planting closer to the usual schedule after weeks of delays earlier this spring.
* CBOT July corn
SOYBEANS – Stable down to 5 cents per bushel
* Soybean futures hit their highest level since February 24 overnight, supported by strength in crude oil futures and lingering concerns over planting progress in the northern plains the United States.
*July CBOT benchmark soybean futures price
*July CBOT Soybeans
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