CBOT Trends - Wheat down 3-7 cents, corn down 1-3, soybeans down 2-5 - Successful Farming

CHICAGO, Dec 18 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Wednesday.

WHEAT - Down 3 to 7 cents per bushel

* Wheat declines on profit-taking after hitting a nearly six-month top on Tuesday.

* Market remains underpinned by easing trade war tensions between the United States and China and by an anticipated rise in export taxes in Argentina, which could reduce competition for U.S. exports.

* CBOT March soft red winter wheat last traded down 6-3/4 cents at $5.49-1/2 per bushel. K.C. March hard red winter wheat was last 4-3/4 cents lower at $4.62-1/4 a bushel, and MGEX March spring wheat was last down 1-1/2 cents at $5.37-1/4 a bushel.

CORN - Down 1 to 3 cents per bushel

* Corn drifts lower in a profit-taking setback from 5-1/2 week highs after four days of gains.

* Market remains underpinned by easing U.S.-China trade war tensions after the two sides agreed to a "phase one" deal last week and a proposed increase in export taxes in Argentina, a key global corn supplier.

* Chinese commodities trader COFCO, Brazilian grains group AMaggi and a Shell-Cosan joint venture are working on plans to build their first corn ethanol plants in Brazil, according to their suppliers.

* Benchmark CBOT March corn futures contract hit chart resistance overnight at its 100-day moving average but held chart support at its 50-day moving average.

* CBOT March corn last traded down 1-1/2 cents at $3.88-1/2 per bushel.

SOYBEANS - Down 2 to 5 cents per bushel

* Soybean futures ease after four days of gains that took prices to 5-1/2 week highs. Prices also pressured by good crop weather across key production areas of South America.

* The market remains underpinned by expectations for increased Chinese soybean buying after interim U.S.-China trade deal signed on Friday. Potentially higher Argentine export taxes on soybeans and soy products also limited declines.

* CBOT January soybeans last traded down 4-3/4 cents at $9.24 per bushel. (Reporting by Karl Plume; Editing by Steve Orlofsky)

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CBOT Trends - Wheat down 3-7 cents, corn down 1-3, soybeans down 2-5 - Successful Farming
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