CBOT Trends-Wheat seen down 4-7 cents, corn down 1-3 cents, soy down 3-6 cents

CHICAGO, Jan 27 (Reuters) - Following are U.S. tradeexpectations for the resumption of grain and soy complex tradingat the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT)on Friday.

WHEAT - Down 4 to 7 cents a bushel

* Wheat futures pulled back overnight in a turnaround fromgains on Thursday.

* Prices remain underpinned by concerns Ukraine's corn andwheat production may fall for a second year in 2023, an analystsaid.

* CBOT March soft red winter wheat last traded down4-1/4 cents at $7.48-1/4 a bushel. The most-active contracthas recovered slightly after dropping on Monday to$7.12-1/2, its lowest price in more than 15 months.

* K.C. March hard red winter wheat was last down7-3/4 cents at $8.57 on Friday, while MGEX March spring wheatwas down 4-1/2 cents at $9.13-1/2 a bushel.

CORN - Down 1 to 3 cents a bushel

* Easing concerns about Argentina's drought weigh on cornand soy futures, traders said.

* CBOT corn could see some support from U.S. export salesand ideas that prices need to rise to entice U.S. farmers toplant acres this spring, analysts said.

* Fund buying could also lend support to futures, analystssaid.

* CBOT March corn last traded down 2-1/2 cents at$6.80 a bushel.

SOYBEANS - Down 3 to 6 cents a bushel

* Rains over Argentina's central agricultural area haveprevented new cuts to soy and corn harvest estimates, the BuenosAires Grains exchange said.

* More rains may fall in southern and western Argentinathrough Wednesday, Commodity Weather Group said.

* Traders are watching to see whether Chinese demandincreases for U.S. crops after the end of Lunar New Yearholidays.

* CBOT March soybeans were last down 5-1/2 cents at$15.18 a bushel.(Reporting by Tom Polansek; Editing by Alexander Smith)

© Copyright Thomson Reuters 2023. Click For Restrictions - http://about.reuters.com/fulllegal.asp