CBOT Trends-Wheat down 6-7 cents, soybeans down 3-5 cents, corn mixed

CHICAGO, Feb 4 (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.

WHEAT - Down 6 to 7 cents per bushel

CBOT wheat Wv1 heads lower in range-bound trade, pressured by sluggish export demand and improved monthly crop condition ratings in Kansas, the top U.S. winter wheat producer. The benchmark CBOT March wheat contract WH25 stayed inside of Monday's trading range in early moves.

Condition ratings for winter wheat improved during the month of January in Kansas but worsened in Oklahoma, Colorado and Nebraska, states where soil moisture declined, the U.S. Department of Agriculture said on Monday.

Grain consultancy Sovecon raised its Russian wheat export forecast for the 2025/2026 season to 38.3 million tonnes from 36.4 million. Russian wheat exports for the 2024/2025 season are seen at 42.8 million tonnes, Sovecon said.

CBOT March soft red winter wheat WH25 was last down 7-1/4 cents at $5.59-1/2 a bushel. K.C. March hard red winter wheat KWH25 was last down 8-1/4 cents at $5.77-1/2 a bushel while Minneapolis March spring wheat MWEH25 was down 10 cents at $6.06-1/2 a bushel.

CORN - Mixed; up 1 cent per bushel to down 1 cent

Nearby CBOT March CH25 and May CK25 corn contracts inched higher in early moves while deferred months fell as traders assessed mutual U.S. and Chinese tariffs following a postponement of U.S. levies against Canada and Mexico.

The USDA confirmed private sales of 132,000 metric tons of U.S. corn to South Korea for delivery in the 2024-25 marketing year that began Sept. 1, 2024.

Beneficial rains were falling in crop areas of Argentina, easing concerns about corn and soy crop prospects due to stressful dry weather.

CBOT March corn CH25 was last up 1-1/4 cents at $4.90 per bushel.

SOYBEANS - Down 3 to 5 cents per bushel

Soybean futures under pressure after top global soybean buyer China imposed targeted tariffs on U.S. imports in a measured response to the sweeping duties on Chinese imports imposed by President Donald Trump.

CBOT soyoil futures BOv1 fell 3% in early moves as the delay of U.S. tariffs against Canada allows for continued competition from imports of Canadian canola.

Traders were monitoring rains in Argentina that may ease concerns about corn and soy crop prospects due to stressful dry weather.

Brazil's 2024/25 soybean crop is expected to reach a record 174 million metric tons, agribusiness consultancy Celeres said on Monday, bumping up its forecast from a prior 170.8 million tons.

CBOT March soybeans SH25 were last down 3 cents at $10.55-1/4 per bushel.