Reuters logo
2 years ago
GRAINS-Soybeans firm on strong demand for U.S. supplies
November 16, 2015 / 2:11 AM / 2 years ago

GRAINS-Soybeans firm on strong demand for U.S. supplies

SYDNEY, Nov 16 (Reuters) - U.S. soybeans edged higher on
Monday, rebounding from losses of nearly 1 percent, as prices
drew support from recent strong demand for U.S. supplies.
         
    FUNDAMENTALS  
    * Chicago Board Of Trade January soybeans rose 0.3
percent to $8.57-3/4 a bushel after closing down 0.9 percent on
Friday.
    * December corn unchanged at $3.58-1/4 after closing
down 1 percent in the previous session.
    * December wheat fell 0.3 percent to $4.94-1/2 a
bushel after closing down 0.5 percent on Friday. 
    * The U.S. Department of Agriculture on Thursday morning
said weekly export sales of soybeans totaled 1.297 million
tonnes in the latest week, topping the high end of market
estimates that ranged from 600,000 to 1 million tonnes.
    * Private analytics firm Informa Economics on Friday raised
its forecast for 2016 U.S. soybean plantings to a record 85.3
million acres. 
    * Informa estimated U.S. winter wheat plantings for harvest
in 2016 at 38.7 million acres, which would be down from 39.5
million for 2015 and the smallest since 2010.
    * USDA reported export sales of U.S. wheat in the week ended
Nov. 5 at 226,700 tonnes, in line with trade expectations for
150,000 to 350,000 tonnes. 
    * Market still digesting USDA's forecast released Tuesday
that 2015-16 U.S. wheat exports would hit a 44-year low.
    * Showers expected in the U.S. Midwest and possibly the
Plains next week should benefit winter wheat ahead of dormancy.
         
    MARKET NEWS  
    * The safe-haven yen firmed while the euro slipped in a
cautious start on Monday to foreign exchange trading after the
attacks in Paris that killed more than 130 people.  
    * Crude oil futures opened slightly stronger in early Asian
trading on Monday following the deadly attacks on Paris, but
prices remain near August lows and oil and other commodities are
expected to continue under broad pressure in nervous trading.
  
    
    DATA AHEAD (GMT) 
1000  Euro zone      Inflation final                    Oct
1330  U.S.           New York Fed manufacturing         Nov 
    
    
  Grains prices at  0140 GMT
  Contract        Last    Change  Pct chg  Two-day chg MA 30   RSI 
  CBOT wheat     494.50    -1.25  -0.25%    -0.70%     506.08   36
  CBOT corn      358.25     0.00  +0.00%    -1.04%     376.91   24
  CBOT soy       857.75     2.50  +0.29%    -0.61%     884.29   30
  CBOT rice      $12.09   -$0.06  -0.49%    -2.22%     $12.42   54
  WTI crude      $40.97    $0.23  +0.56%    -1.87%     $45.54   26
  Currencies                                                
  Euro/dlr       $1.072  -$0.006  -0.54%    -0.91%
  USD/AUD         0.711   -0.002  -0.24%    -0.18%
  Most active contracts
  Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
  RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Richard Pullin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below