CBOT Trends-Wheat up 5-6 cents, corn up 1-2, soybeans up 5-7

CHICAGO, Dec 24 (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 Wednesday:

WHEAT - Up 5 to 6 cents per bushel

• CBOT wheat Wv1 rose for a fifth session on Wednesday as worries about war escalation in the Black Sea export zone and severe cold in Russian wheat belts encouraged short-covering before the Christmas break. {GRA/}

• Russian attacks on Ukrainian ports have reinforced short-covering by investors that typically occurs before the year-end holidays.

• Russia confirmed on Friday it will set a grain export quota of 20 million metric tons for February 15 to June 30. That is double the year-ago level and suggests Russia has ample volumes of wheat to ship.

• Snow cover should protect Russian and Ukrainian wheat from frost damage on Wednesday, but cold, dry weather is set to limit winter wheat growth in the U.S., Commodity Weather Group said in a note.

• CBOT March soft red winter wheat WH26 last traded up 5 cents at $5.22 per bushel. K.C. March hard red winter wheat KWH26 last traded up 5-1/2 cents at $5.33-1/2 per bushel, and Minneapolis March spring wheat MWEH26 last traded up 5 cents at $5.80-3/4 per bushel.

CORN - Up 1 to 2 cents per bushel

• CBOT corn Cv1 futures edged up, with grain markets also drawing support from a falling dollar =USD and a rally in crude oil LCOc1.

• The U.S. dollar weakened on Wednesday and was set for its biggest yearly fall since 2017, as investors wagered the Federal Reserve would have room to cut rates further next year even as most of its peers look finished with easing.

• A weaker dollar tends to make U.S. exports cheaper and more competitive for holders of other currencies on the global market.

• CBOT March corn CH26 was last up 1-3/4 cents at $4.49-1/4 per bushel.

SOYBEANS - Up 5 to 7 cents per bushel

• Soybeans climbed as traders remained cautious about the pace of Chinese purchases of U.S. beans under a bilateral trade truce.

• Forecasters continued to project another record harvest in Brazil this season.

• CBOT March soybeans SH26 were last up 6-1/4 cents at $10.70 per bushel.