SYDNEY, Sept 12 U.S. corn futures edged up on
Monday to extend gains into a fourth session and remain near
their highest in over two weeks, but prices were reined in as
investors waited for the latest U.S. government supply and
demand forecast later in the day.
* The most active corn futures on the Chicago Board of Trade
rose 0.15 percent to $3.41-1/4 a bushel, having gained
0.74 percent in the previous session when prices hit their
highest since Aug. 23 at $3.42.
* The most active soybean futures fell 0.2 percent to
$9.78-1/4 a bushel, having firmed 0.36 percent on Friday.
Soybeans hit a two-week high last week.
* The most active wheat futures were little changed at
$4.03-3/4 a bushel, having closed down 0.62 percent on Friday.
* The U.S. Department of Agriculture is likely to reduce its
corn yield forecast and raise its soybean yield forecast in its
September supply and demand outlook due 1600 GMT on Monday,
according to a Reuters poll of analysts.
* Analysts estimated the corn yield at 173.4 bushels per
acre, down from 175.1 bpa on Aug. 12, but still a record high
and the average soybean yield 49.2 bpa, up from 48.9 bpa in
* U.S. Commodity Futures Trading Commission data released
after the close of trading on Friday suggested that speculative
investors also were bearish, with speculators expanding their
net short corn bet in corn to the largest in more than four
* The dollar began the week on the back foot on Monday as a
bout of risk aversion underpinned the yen, though the U.S.
currency garnered some support on renewed talk of a possible
rate hike by the Federal Reserve as early as this month.
* Oil prices extended declines on Monday amid projections
that U.S. data is set to show a big rebound in crude inventories
to offset an unexpected slump due to the impact of a tropical
Cont Last Chan Pct Two- MA RSI
ract ge chg day 30
CBOT 403. 0.25 +0.0 -0.5 422. 42
whea 75 6% 5% 10
CBOT 341. 0.50 +0.1 +0.8 333. 64
corn 50 5% 9% 11
CBOT 978. -2.0 -0.2 +0.1 979. 58
soy 25 0 0% 5% 19
CBOT 9.68 $0.1 +1.7 +1.4 $9.7 36
rice 6 3% 7% 7
WTI 45.3 -$0. -1.1 -4.7 $44. 49
crud 5 53 6% 7% 91
Euro $1.1 $0.0 +0.1 -0.1
/dlr 25 02 4% 2%
USD/ 0.75 0.00 +0.0 -1.3
AUD 41 0 4% 0%
(Reporting by Colin Packham; Editing by Joseph Radford)