CBOT Trends-Wheat and corn down 2-3 cents, soy up 7-9

CHICAGO, July 2 (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 Wednesday.

WHEAT - Down 2 to 3 cents per bushel

• CBOT wheat fell on pressure from the active harvests in the U.S. and the Black Sea, which are expected to be sizeable.

• However, the wheat market is underpinned by short-covering and bargain-buying after last week's deep losses, with prices trading close to multi-year lows reached in May.

• CBOT September soft red winter wheat WU25 was last down 3-1/4 cents to $5.45-3/4 per bushel. K.C. September hard red winter wheat KWU25 was last down 2-1/4 cents to $5.29 per bushel, and Minneapolis September spring wheat MWEU25 was last down 1/4 cent to $6.26-3/4 per bushel.

CORN - Down 2 to 3 cents per bushel

• CBOT corn eased on Wednesday to remain near contract lows as favorable crop weather was expected to continue in the U.S. Midwest, reinforcing the prospect of a bumper harvest.

• With a mix of showers and warm, mild weather set to continue, traders currently see limited threats to corn crops as they approach the crucial pollination stage.

• Upcoming rains will minimize dryness in the U.S. Midwest, an analyst note said.

• Meanwhile, rival exporter Brazil is harvesting what some analysts anticipate will be a record second-corn crop.

• CBOT December corn CU25 was down 2-3/4 cents to $4.03-1/4 per bushel.

SOYBEANS - Up 7 to 9 cents per bushel

• CBOT soybeans ticked higher on short covering ahead of the Fourth of July holiday weekend as well as strengthening soyoil futures.

• Soyoil futures rose after a tax-cut and spending bill adopted by the U.S. Senate included a measure to restrict biofuel credits to North American feedstock.

• However, expectations of ample supplies have also weighed on the soybean market.

• CBOT November soybeans SX25 were last up 6-1/2 cents to $10.33-3/4 per bushel.