SYDNEY, Sept 20 U.S. corn edged lower on Tuesday
despite the U.S. Department of Agriculture pegging harvest
progress below market expectations as forecasts for drier
weather across key U.S. growing regions eased fears of further
* The most active corn futures on the Chicago Board Of Trade
fell 0.15 percent to $3.35-3/4 a bushel, having closed
little changed in the previous session.
* The most active soybean futures rose 0.7 percent to
$9.79-1/4 a bushel, having firmed 0.67 percent on Monday when
prices hit a one-week high of $9.81-1/4 a bushel.
* The most active wheat futures fell 0.2 percent to
$4.03-1/4 a bushel, having closed up 0.19 percent on Monday.
* The USDA said 9 percent of U.S. corn was harvested as of
Sunday, down from the five-year average of 12 percent for this
time of year and 11 percent expected by the trade.
* The USDA said 4 percent of U.S. soybeans were harvested,
down slightly from 5 percent on average, but matching
* Updated weather forecasts call for drier conditions across
the U.S. corn belt, easing fears of further delays.
* Egypt failed to attract a single offer at its state grain
tender on Monday, forcing it to cancel its third consecutive
wheat purchase tender during an ongoing standoff with suppliers
over import policies.
* The U.S. dollar fell on Monday from Friday's more than
two-week high against a basket of major currencies on
expectations that any Bank of Japan action this week would not
weaken the yen and that the Federal Reserve would refrain from
raising interest rates.
* Oil prices fell on Tuesday after Venezuela said that
global crude supplies needed to fall by 10 percent in order to
bring production down to consumption levels, confirming analyst
views that markets remain heavily oversupplied.
* A see-saw session on Wall Street on Monday ended little
changed, with gains in big bank stocks offsetting a drag from
Apple, as investors braced for the Federal Reserve meeting later
DATA/EVENT AHEAD (GMT)
0600 Germany Producer prices Aug
1230 U.S. Housing starts Aug
1230 U.S. Building permits Aug
Federal Open Market Committee starts two-day policy meeting
Cont Last Chan Pct Two- MA RSI
ract ge chg day 30
CBOT 403. -0.7 -0.1 +0.0 416. 71
whea 25 5 9% 0% 96
CBOT 336. -0.5 -0.1 -0.0 333. 71
corn 75 0 5% 7% 03
CBOT 979. 6.75 +0.6 +1.3 977. 53
soy 25 9% 7% 68
CBOT 9.76 $0.0 +0.0 -0.3 $9.8 63
rice 0 0% 1% 2
WTI 43.0 -$0. -0.4 +0.1 $45. 40
crud 9 21 8% 4% 43
Euro $1.1 $0.0 +0.0 +0.2
/dlr 18 00 3% 1%
USD/ 0.75 0.00 +0.1 +0.7
AUD 41 1 1% 1%
(Reporting by Colin Packham; Editing by Michael Perry)