CBOT Trends - Corn, wheat seen steady to higher; soybeans mixed

29 Nov 2019, 14:24

CHICAGO, Nov 29 (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. CST (1430 GMT) on Friday.

The markets were closed on Thursday for the Thanksgiving holiday.

WHEAT - Steady to up 2 cents per bushel

* There were no deliveries against the CBOT's December wheat contract on first notice day on Friday. Traders expected deliveries of zero to 400 contracts, with most anticipating none.

* The USDA reported weekly U.S. wheat export sales of 612,700 tonnes for the period of Nov. 15-21. This was slightly above analysts' estimates for 300,000 to 600,000 tonnes.

* Positioning is expected in the grain markets on the last trading day of the month.

CORN - Steady to up 3 cents per bushel

* There were no deliveries against the CBOT's December corn contract.

* Some traders had been expecting deliveries of zero to 400 contracts, and a few anticipated heavier deliveries of 500 to 1,500 contracts.

* Weekly U.S. corn export sales were 806,800 tonnes, compared to analysts' estimates for 400,000 to 900,000 tonnes.

SOYBEANS - Mixed

* Weekly U.S. soybean export sales of 1.7 million tonnes were above analysts estimates for 600,000 to 1.2 million tonnes.

* The USDA reported that China bought 831,200 tonnes last week, including 466,000 tonnes switched from unknown destinations.

* Traders continue to look for signs of progress to ease the U.S.-China trade war, which has slowed American soy exports.

* Trade tensions resurfaced after China rebuked President Donald Trump's decision to ratify a bill backing protesters in Hong Kong. (Reporting by Tom Polansek in Chicago Editing by Chizu Nomiyama)