CBOT Trends-Wheat up 3-4 cents, corn up 2-3 cents, soy up 3-5 cents

CHICAGO, Dec 31 (Reuters) - Following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CST (1430 GMT) on Tuesday.

NOTE: CBOT grain markets are scheduled to close at the normal time on Tuesday. U.S. markets will be closed on Wednesday for New Year's Day.

WHEAT - Up 3 to 4 cents per bushel

* Wheat futures seen higher on short-covering ahead of the year's end and spillover strength from corn and soybeans. But the benchmark CBOT March wheat contract WH25 stayed inside of Monday's trading range in early moves as traders awaited fresh direction.

* CBOT March soft red winter wheat WH25 was last up 3-1/4 cents at $5.51-1/2 a bushel. K.C. March hard red winter wheat KWH25 was last up 4-1/2 cents at $5.60-1/4 a bushel and Minneapolis March spring wheat MWEH25 was last up 2-1/2 cents at $5.96-1/4 a bushel.

CORN - Up 2 to 3 cents per bushel

* Corn futures head higher on technical buying ahead of the end of the year, worries about a drying trend in Argentina's crop belt and expectations that the U.S. Department of Agriculture might tighten its domestic corn stocks forecast in key monthly reports due on Jan. 10. However, the most-active CBOT March corn contract CH25 stayed below a six-month high set on Monday.

* CBOT March corn CH25 was last up 3 cents at $4.55-1/4 a bushel.

SOYBEANS - Up 3 to 5 cents per bushel

* Soybean futures climb on light technical moves ahead of the end of the year and strength in soymeal SMv1 that appeared to be tied to short-covering. Weekly commitments data released on Monday by the U.S. Commodity Futures Trading Commission showed that managed commodity funds expanded their sizable net short position in CBOT soymeal futures in the latest week, leaving the market vulnerable to short-covering rallies.

* Traders continue to monitor outlooks for a drying trend in crop areas of Argentina, the world's top supplier of soy products.

* The CBOT reported 1,116 deliveries against January soymeal futures SMF25 on first notice day, topping trade expectations for 200 to 500 lots, with only a handful of commercial stoppers. First-day January soybean SF25 deliveries totaled 109 contracts and January soyoil BOF25 deliveries totaled 425 lots, both in line with trade expectations. MEAL/DEL SOY/DEL SBO/DEL

* CBOT March soybeans SH25 were last up 4 cents at $9.95-3/4 per bushel.

(Reporting by Julie Ingwersen)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))