CBOT Trends-Wheat up 4-6 cents, corn up 1-3 cents, soy up 7-8 cents
CHICAGO, Nov 1 (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. CDT (1330 GMT) on Friday:
WHEAT - Up 4 to 6 cents per bushel
* Wheat futures trend higher, supported by strength in soybeans, corn and crude oil, but the benchmark CBOT December WZ24 wheat contract stayed inside of this week's trading range as traders await fresh direction.
* Forecasts called for increased showers over the next two weeks in the U.S. Plains and Midwest that should bring much-needed moisture for the emerging winter wheat crop.
* Algeria's state grains agency OAIC is believed to have purchased about 600,000 metric tons of milling wheat in an international tender that closed on Thursday, European traders said. Expected origins included Romania and Bulgaria, Ukraine, some Russian and possibly new crop Argentine wheat.
* CBOT December soft red winter wheat WZ24 was last up 6 cents at $5.76-1/2 per bushel. K.C. December hard red winter wheat KWZ24 was last up 4-3/4 cents at $5.74 a bushel and Minneapolis December spring wheat MWEZ24 was last up 5 cents at $6.09-1/4 a bushel.
CORN - Up 1 to 3 cents per bushel
* Corn heads modestly higher, supported by strength in soybeans and crude oil futures as well as brisk export demand for U.S. corn supplies.
* The CBOT December corn contract CZ24 has spent this week hovering just above chart support at its 50-day moving average near $4.11 a bushel.
* The U.S. Department of Agriculture (USDA) confirmed private sales of 781,322 metric tons of U.S. corn to Mexico, including 715,800 tons for delivery in the 2024/25 marketing year that began Sept. 1 and the remaining 65,532 tons for 2025/26.
* CBOT December corn CZ24 last traded up 2-1/4 cents at $4.13 per bushel.
SOYBEANS - Up 7 to 8 cents per bushel
* Soybean futures trend higher for a third straight session as December soyoil BOZ24 climbs 2%, reaching its highest level since mid-July, and crude oil CLc1 futures rise on tensions in the Middle East. A 3% jump in Malaysian palm oil FCPOc3 futures adds to bullish sentiment. POI/
* Improved crop weather in top global soybean producer Brazil limits rallies.
* Fresh export demand lends support. The USDA confirmed private sales of 132,000 metric tons of U.S. soybeans to China and another 198,000 tons to undisclosed destinations, all for delivery in the 2024/25 marketing year that began Sept. 1.
* The USDA also confirmed private sales of 30,000 metric tons of U.S. soyoil to India.
* CBOT January soybeans SF25 were last up 8 cents at $10.02-1/2 per bushel.
Reporting by Julie Ingwersen
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