CBOT Trends-Soybeans up 4-14 cents, corn up 1-2 cents, wheat down 2-3 cents
CHICAGO, March 17 (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 Tuesday:
WHEAT - Down 2 to 3 cents per bushel
Wheat futures trended lower in early moves for a second straight session, although the market was underpinned by concern about dry conditions in the U.S. Plains winter wheat belt, where forecasts called for near-record warmth later this week.
Condition ratings for winter wheat declined in the latest week in Kansas, the top U.S. winter wheat producer, as well as in Oklahoma and Texas, data released by the U.S. Department of Agriculture showed on Monday.
CBOT May soft red winter wheat WK26 was last down 3-1/4 cents at $5.94 per bushel. K.C. May hard red winter wheat KWK26 was last down 3-1/2 cents at $6.13 a bushel and Minneapolis May spring wheat MWEK26 was down 4-1/2 cents at $6.29-1/2 per bushel.
CORN - Up 1 to 2 cents per bushel
Corn futures firmed in early moves on bargain-buying a day after the benchmark May contract CK26 fell 2.8% in sympathy with soybeans. Early strength in crude oil CLc1 was seen as supportive given corn's role as a feedstock for ethanol.
CBOT May corn CK26 was last up 1 cent at $4.55 per bushel.
SOYBEANS - Up 4 to 14 cents per bushel
Soybean futures rose in early trade, rebounding one day after the benchmark May contract SK26 fell by its daily 70-cent maximum. Renewed strength in crude oil prices CLc1 linked to war headlines from the Middle East helped counter doubts over Chinese demand that had sent soy prices tumbling on Monday. U.S. President Donald Trump on Monday said he is seeking to delay a highly anticipated trip to China by about a month because of the Iran war.
The biggest advances early Tuesday were in the new-crop November SX26 soybean contract, representing the 2026 U.S. harvest.
CBOT soyoil futures BOv1 rose more than 2% on news that Trump has invited farmers and biofuel producers to an agriculture event at the White House next week, two sources familiar with the planning said, as his administration moves to finalize new biofuel blending quotas.
CBOT May soybeans SK26 were last up 4-1/4 cents at $11.59-1/2 per bushel.
