CBOT Trends-Wheat steady-down 3 cents, corn down 1-4, soybeans down 7-9
CHICAGO, May 23 (Reuters) - The 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. CDT (1330 GMT) on Friday.
NOTE: CBOT agricultural markets will be closed on Monday for the U.S. Memorial Day holiday.
WHEAT - Steady to down 3 cents per bushel
CBOT wheat futures weaker on profit taking and technical selling ahead of the long holiday weekend. Good export demand and a weaker U.S. dollar limiting declines.
Actively traded CBOT July wheat WN25 hit overhead chart resistance at its 50-day moving average during overnight trading after closing below the key technical level on Thursday.
Crop ratings for France's main wheat crop fell last week, data from farm office FranceAgriMer showed on Friday, as dry weather persisted in major northern plains of the EU's biggest grain producer.
CBOT July soft red winter wheat WN25 was last down 3/4 cent at $5.43-3/4 per bushel. K.C. July hard red winter wheat KWN25 was last down 1-1/4 cents at $5.38-3/4 a bushel. Minneapolis July spring wheat MWEN25 was last up 3-1/4 cents at $6.03-1/2 a bushel.
CORN - Down 1 to 4 cents per bushel
Corn futures lower on technical selling and profit taking ahead of the long holiday weekend. Favorable crop weather across much of the central and northern U.S. corn belt also weighing on the market.
Actively traded CBOT July corn CN25 fell below chart resistance at its 200-day moving average during overnight trading after closing above the key technical level a day earlier.
Rains expected to stall planting in the Ohio River valley and the Delta regions. Cooler-than-normal weather is forecast next week for the Midwest, with showers returning in the following week, according to Commodity Weather Group.
CBOT July corn CN25 was last down 3-1/2 cents at $4.59-1/2 per bushel.
SOYBEANS - Down 7 to 9 cents per bushel
Soybeans lower in a profit-taking setback ahead of the long holiday weekend. Favorable crop weather in much of the Midwest also weighing on prices.
Rains expected to stall planting in the Ohio River valley and the Delta regions. Cooler-than-normal weather is forecast next week for the Midwest, with showers returning in the following week, according to Commodity Weather Group.
CBOT July soybeans SN25 were last down 8 cents at $10.59-1/2 per bushel.
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