CBOT Trends-Wheat up 7-8 cents, corn up 6-7, soybeans up 17-20
CHICAGO, March 11 (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 - Up 7 to 8 cents per bushel
Wheat ticked up under support from the escalating U.S.-Israeli war on Iran.
Wheat is often sensitive to geopolitical risks and also benefits from an influx of managed money into commodity investments.
The upheaval in the Middle East has shifted attention away from ample global supplies of grain, helping lift Chicago prices to multi-year highs on Monday.
Dryness has grown for the winter wheat crop in the U.S. Plains, an analyst note said.
CBOT May soft red winter wheat WK26 was last up 11-3/4 cents to $6.02-3/4 per bushel. K.C. May hard red winter wheat KWK26 was last up 14-1/2 cents to $6.23-1/4 per bushel, while Minneapolis May spring wheat MWEK26 was up 8 cents to $6.43 per bushel.
CORN - Up 6 to 7 cents per bushel
Corn followed crude oil futures higher, as the grain is often used as a feedstock for biofuels.
Traders largely brushed off an unsurprising monthly supply-and-demand report from the U.S. Department of Agriculture on Tuesday.
Kansas lawmakers were set to take up a bill on Tuesday backed by Bayer BAYGn.DE that would prevent people from suing pesticide manufacturers for not warning them that their products could cause cancer or other illnesses, as the German company readies a potential $7 billion-plus settlement for thousands of lawsuits over the weedkiller Roundup.
CBOT May corn CK26 was last up 7 cents to $4.59 per bushel.
SOYBEANS - Up 17 to 20 cents per bushel
Chicago soybeans rose on Wednesday as crude oil recovered from a day-earlier plunge while investors wrestled with disruption caused by the U.S.-Israeli war on Iran.
Higher crude prices can support soybeans as soyoil is widely used to produce biodiesel fuel.
CBOT May soybeans SK26 were last up 20-3/4 cents to $12.22-1/2 per bushel.
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