December 17, 2015 / 1:50 AM / 2 years ago

GRAINS-Soybeans fall for third session, near three-week low

SYDNEY, Dec 17 (Reuters) - U.S. soybeans fell for a third
consecutive session on Thursday as prices lingered near a
three-week low, under pressure from a stronger dollar that
further reduces the competitiveness of U.S. supplies amid rising
competition from South America.
         
    FUNDAMENTALS  
    * Chicago Board Of Trade January soybeans fell 0.5
percent to $8.58-1/4 a bushel, having closed down 0.55 percent
on Wednesday when prices hit a three-week low of $8.56 a bushel.
    * March corn rose 0.2 percent to $3.70-1/2 after
closing down 2 percent in the previous session when prices hit a
$3.69-1/4 a bushel - the lowest since December 3.
    * March wheat was unchanged at $4.83-1/2 a bushel,
near the session low of $4.82-1/4 a bushel - the lowest since
December 9. Wheat closed down 1.9 percent on Wednesday. 
    * A weekly U.S. government report that showed ethanol
inventories rising to their highest since mid-June weighed on
the corn market. The Energy Information Administration said
ethanol stocks rose by 493,000 barrels to 20.32 million.
 
    * The Federal Reserve on Wednesday afternoon raised interest
rates for the first time since 2006. The move was widely
expected but was seen as a negative for commodities markets.
 
    * A stronger U.S. dollar further reduces export demand for
U.S. commodities, particularly wheat.
         
    MARKET NEWS  
    * The dollar gained against the euro and yen on Thursday,
rising after the Federal Reserve's decision to hike interest
rates for the first time since 2006 lifted risk appetite and
Treasury yields.  
    * Crude futures rose in Asian trade on Thursday recouping
some of the losses from the previous session, when they fell
sharply after the Federal Reserve raised rates and official
figures showed a surprise build in U.S. inventories.  
    * U.S. stocks rallied on Wednesday after the Federal Reserve
announced it is raising its key policy rate for the first time
in nearly a decade in a sign of confidence in the U.S. economy.
  
    
    DATA AHEAD (GMT) 
0900  Germany             Ifo business climate              Dec 
1000  Euro zone           Labour costs                     Q3 
1330  U.S.                Current account                  Q3 
1330  U.S.                Weekly jobless claims 
1330  U.S.                Philly Fed business index        Dec 
1500  U.S.                Leading index                    Nov

  Grains prices at  0128 GMT
  Contract        Last    Change  Pct chg  Two-day chg MA 30   RSI 
  CBOT wheat     483.50     0.00  +0.00%    -2.18%     490.58   52
  CBOT corn      370.50     0.75  +0.20%    -1.79%     373.26   47
  CBOT soy       858.25    -4.25  -0.49%    -1.04%     870.67   29
  CBOT rice      $10.96    $0.00  +0.00%    -0.27%     $11.70   31
  WTI crude      $35.61    $0.09  +0.25%    -4.66%     $40.35   30
  Currencies                                                
  Euro/dlr       $1.086  -$0.006  -0.51%    -0.66%
  USD/AUD         0.719   -0.004  -0.61%    -0.06%
  Most active contracts
  Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
  RSI 14, exponential
 























 (Reporting by Colin Packham; Editing by Michael Perry)

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