By Kirk Maltais

-- Wheat contracts for March delivery fell 1.1% to $5.25 1/4 a bushel at the Chicago Board of Trade Friday.

-- January soybean contracts also fell 0.8% to $9.09 3/4 a bushel.

-- Corn contracts for March delivery fell 0.4% to $3.84 a bushel.

HIGHLIGHTS

Few Surprises Expected in WASDE Report: The U.S. grain market doesn't believe the USDA's latest World Agricultural Supply and Demand Estimate (WASDE) report will contain much information solidifying a Chinese presence on the market after the U.S.-China trade truce at the Group of 20 Summit, but is hopeful anyway that the report will help to illuminate the situation. "With the U.S. exports for soybeans, that's the number one thing to watch for if you ask me," said Mike Zuzolo of Global Commodity Analytics & Consulting, adding that any upward revision to those figures could confirm a USDA expectation that Chinese buyers will be purchasing U.S. soybeans.

Lack of China Clarity Pushes Prices Down: As per analyst predictions this week, grain futures finished lower Monday after closing up Friday, a reflection of disappointment in the market that the Chinese nor U.S. figures provided any concrete information regarding the 90-day trade truce. President Trump didn't address the truce in tweets this weekend, instead focusing on other topics -- particularly the ongoing Russian collusion investigation lingering in his orbit.

INSIGHT

Swine Fever Proliferation Could Alter Soybean Numbers: The spread of African swine fever among pigs in Asia and abroad could prove to be a factor moving soybean demand estimates in Tuesday's WASDE. "There is justification for reducing Chinese imports further due to African swine fever, while making other adjustments to the balance sheet to reflect things that we know (i.e. higher Brazil exports, etc.)," said INTL FCStone chief commodities economist Arlan Suderman.

U.S. Weather Forecast Mostly Dry This Week: The weather forecast for U.S. grain-growing areas this week calls for dry weather for most of the week, with rain showers to travel up areas east of the Mississippi River this weekend. Wet weather has been attributed as one reason that some growers have kept a small portion of their crop in their fields this year, with them being too moist to process.

AHEAD

-- USDA releases its World Agricultural Supply and Demand Estimate (WASDE) report on Tuesday.

-- USDA releases its weekly export sales data on Thursday.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

December 10, 2018 15:17 ET (20:17 GMT)

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