CBOT Trends-Wheat and corn steady-down 2 cents, soybeans up 1-4

CHICAGO, Aug 22 (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.

WHEAT - Steady to down 2 cents per bushel

• Wheat futures Wv1 ease on profit-taking ahead of the weekend and after two days of gains. Ample global supplies continue to anchor prices.

• CBOT December soft red winter wheat WZ25 was last down 1 cent at $5.28-3/4 per bushel. K.C. December hard red winter wheat KWZ25 was last down 1 cent at $5.25 per bushel, and Minneapolis December wheat MWEZ25 was last up 3/4 cent at $5.90-3/4 a bushel.

CORN - Steady to down 2 cents per bushel

• Corn futures Cv1 weaker on profit-taking after reaching a three-week high on Thursday. Expectations for a record U.S. harvest weighing on prices.

• Scouts on the Pro Farmer Midwest crop tour estimated the corn yield in top producer Iowa at 198.43 bushels per acre, above the 2024 tour average of 192.79 bpa, and Minnesota's corn yield at 202.86 bpa, a sharp jump from 164.90 bpa in 2024. The estimates were the highest ever for both states in the tour's 22-year data set.

• Pro Farmer will release its U.S. corn and soy crop forecast later on Friday, drawing from tour observations.

• The U.S. Department of Agriculture confirmed private U.S. corn sales totaling 119,769 metric tons to Costa Rica and 140,452 tons to Spain for shipment in the 2025/26 marketing year.

• The International Grains Council has raised its forecast for 2025/26 global corn production to a record 1.299 billion tons, up 23 million tons from its previous estimate, largely reflecting an improved outlook for the U.S. crop.

• CBOT December corn CU25 was last down 1/4 cent at $4.11-1/2 per bushel.

SOYBEANS - Up 1 to 4 cents per bushel

• Soybean futures Sv1 extend the prior session's strong gains, supported by expectations for a favorable government ruling on U.S. biofuel blending.

• President Donald Trump's administration is expected to rule on a growing backlog of requests from small oil refiners seeking relief from U.S. biofuel laws as early as Friday, but will delay a decision on whether larger refiners must compensate by boosting their own biofuel blending. How the administration deals with exemption requests and the reallocation issues will impact agricultural commodities like soyoil.

• Crop scouts on the annual Pro Farmer Midwest crop tour calculated its highest pod count readings on record in Iowa and Minnesota, suggesting very strong harvest potential.

• Pro Farmer will release its U.S. corn and soy crop forecast later on Friday, drawing from tour observations.

• CBOT November soybeans SX25 were last up 3-1/2 cents at $10.59-1/2 per bushel.