CBOT Trends-Wheat mixed, corn steady-down 1, soy up 1-4

CHICAGO, May 13 (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 5 to up 2 cents per bushel

• CBOT wheat Wv1 futures were mixed on Wednesday after a day-earlier surge on an unexpectedly low U.S. crop forecast.

• In closely watched forecasts for the upcoming 2026/27 season, the U.S. Department of Agriculture projected the smallest U.S. wheat crop since 1972, with its estimate falling below trade expectations.

• The U.S. Department of Agriculture (USDA) on Monday rated 28% of the U.S. winter wheat crop in good-to-excellent condition, down from 31% a week earlier and the lowest for this time of year since 2022.

• In the U.S. Southern Plains, temperatures in the 90 degree Fahrenheit range and dryness are expected to add to late losses in around half the region's winter wheat, according to Commodity Weather Group.

• Asian flour millers are rushing to secure wheat cargoes after an absence of more than two months, as a severe U.S. drought and forecasts for dry weather caused by El Nino across key producing regions raise fears of tighter global supplies, traders said.

• CBOT July soft red winter wheat WN26 was last down 3 cents at $6.76 a bushel. K.C. July hard red winter wheat KWN26 was last down 9-3/4 cents at $7.41 a bushel, and Minneapolis July spring wheat MWEN26 was up 4-1/2 cents at $7.49 a bushel.

CORN - Steady to down 1 cent per bushel

• CBOT corn traded near unchanged after climbing the previous day on rising oil prices after U.S. President Donald Trump said Monday that the ceasefire with Iran was "on life support". O/R

• Oil prices were little changed on Wednesday as investors monitored the fragile Middle East ceasefire and awaited a high-stakes summit in Beijing between U.S. President Donald Trump and China's Xi Jinping.

• Corn has tended to follow crude oil during the Iran war because corn is widely used for the biofuel ethanol.

• CBOT July corn CN26 was last down 3/4 cent at $4.79-1/4 per bushel.

SOYBEANS - Up 1 to 4 cents per bushel

• Soybean futures ticked up as investors monitored prospects for U.S. President Donald Trump and Chinese President Xi Jinping to reach a deal that expands Beijing's purchases of grains and meat, but market watchers said major new soybean purchases beyond those agreed last October are unlikely. GRA/

• Chinese demand could alter the outlook for U.S. soybeans after the USDA projected smaller U.S. stocks next season than expected on average by analysts.

• CBOT July soybeans SN26 were last up 1-1/2 cents at $12.28-1/4 per bushel.