GRAINS-Corn firms, rebounds from losses on crop tour findings
SYDNEY, Aug 21 (Reuters) - U.S. corn futures edged higher on Wednesday, rebounding from losses in the previous session when results from a widely watched crop tour stoked expectations for a bumper crop. FUNDAMENTALS * Chicago Board of Trade December corn rose 0.11 percent to $4.76 a bushel, having slid 2 percent the session before. * November soybeans were little changed at $12.89-3/4 a bushel, after closing down 0.98 percent on Tuesday. * December wheat gained 0.19 percent to $6.47-1/4 a bushel, having closed up 1.15 percent on Tuesday. * The Pro Farmer tour of the Midwest corn and soybean growing region is confirming prospects for a bumper crop. * Corn yield prospects in South Dakota were above average and up sharply from last year's drought-scorched crop. * Ohio's corn crop is on track for a near-record yield, scouts on the annual U.S. crop tour found on Monday. * Warmer and drier weather over the next couple of weeks pose a threat to trim corn and soybean yields in the U.S. Midwest, an agricultural meteorologist said on Tuesday. MARKET NEWS * The dollar took back some lost ground against the yen though remained near a half-year low against the euro in early Asian trade on Wednesday, as investors awaited minutes of the U.S. Federal Reserve's latest meeting for clues on its policy outlook. * The S&P 500 bounced on Tuesday to end a four-day losing skid, as earnings from Best Buy and TJX Cos helped buoy retailers and consumer discretionary stocks. DATA/EVENTS (GMT) 1400 U.S. existing home sales 1800 FOMC releases minutes of July 30-31 meeting Grains prices at 0017 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 647.25 1.25 +0.19% +0.58% 666.36 40 CBOT corn 476.00 0.50 +0.11% +2.70% 480.31 44 CBOT soy 1289.75 -0.75 -0.06% +2.42% 1238.66 38 CBOT rice $15.74 -$0.04 -0.29% +1.12% $15.51 66 WTI crude $105.10 -$0.01 -0.01% -1.87% $106.01 39 Currencies Euro/dlr $1.342 $0.008 +0.63% +0.66% USD/AUD 0.904 -0.006 -0.71% -1.48% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; Editing by Joseph Radford)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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