SYDNEY, Sept 13 U.S. soybeans edged higher on
Tuesday to partially recover from losses of more than 1.5
percent in the previous session, but gains were checked by two
bearish reports from the U.S. Department of Agriculture.
* The most active soybean futures on the Chicago Board of
Trade climbed 0.47 percent to $9.68-3/4 a bushel, having
closed down 1.6 percent on Monday when prices fell to a five-day
* The most active corn futures rose 0.37 percent to
$3.40-3/4 a bushel, after closing down 0.44 percent the session
* The most active wheat futures advanced 0.2 percent
to $4.10 a bushel, having closed up 1.4 percent on Monday.
* After the close on Monday, the USDA said 74 percent of the
corn crop is in good-to-excellent condition, unchanged from last
week and ahead of market expectations.
* The USDA said 73 percent of the soybean crop is in
good-to-excellent condition, unchanged from last week and ahead
of market expectations.
* On Monday, the USDA pegged the average U.S. soybean yield
at above even the highest of analysts' estimates in a Reuters
poll conducted ahead of the report.
* The USDA reduced its estimate for corn yields, but within
analyst expectations. It is still expecting a record harvest.
* The dollar was on the defensive on Tuesday as markets
remained hostage to seesawing speculation on the outlook for
U.S. rates, with dovish comments from a Federal Reserve policy
maker providing the latest catalyst.
* Oil prices ended nearly 1 percent higher on Monday as a
softer dollar and stronger U.S. equity markets helped crude
futures rebound from an early drop pressured by worries about
increased drilling activity for oil in the United States.
* U.S. stocks racked up their strongest gain in two months
on Monday after Federal Reserve Board Governor Lael Brainard
stuck to her dovish stance on interest rates and urged caution
about removing monetary stimulus too quickly.
DATA/EVENT AHEAD (GMT)
0900 Euro Zone Employment Q2
1000 U.S. NFIB Business Optimism Aug
1255 U.S. Redbook weekly
Cont Last Chan Pct Two- MA RSI
ract ge chg day 30
CBOT 410. 0.75 +0.1 +1.6 421. 53
whea 00 8% 1% 75
CBOT 340. 1.25 +0.3 -0.0 333. 65
corn 75 7% 7% 26
CBOT 968. 4.50 +0.4 -1.1 978. 47
soy 75 7% 7% 97
CBOT 9.73 -$0. -0.1 +1.9 $9.7 51
rice 02 5% 4% 7
WTI 45.8 -$0. -0.8 +0.0 $45. 51
crud 9 40 6% 2% 13
Euro $1.1 $0.0 -0.0 +0.0
/dlr 23 00 1% 2%
USD/ 0.75 -0.0 -0.1 +0.1
AUD 52 01 5% 9%
(Reporting by Colin Packham; Editing by Joseph Radford)