September 30, 2016 / 1:07 AM / a year ago

GRAINS-Wheat steady, poised for first monthly rise in 5 months

SYDNEY, Sept 30 (Reuters) - U.S. wheat futures held steady
on Friday, but was poised to record its first monthly rise in
five months as fears over Australian production - the world's
No. 4 exporter - encouraged hopes for stronger demand for U.S.
supplies.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade  was up nearly 3 percent for the month, the first
monthly rise in five months.
    * The most active soybean futures up 0.5 percent for
the month, the first monthly rise in three months.
    * The most active corn futures up 4 percent for the
month, the first monthly rise in four months.
    * Analysts polled by Reuters expected USDA at midday (1600
GMT) on Friday to show stocks of corn, soybeans and wheat as of
Sept. 1 larger than at the same time in 2015. 
    * USDA on Thursday morning reported export sales of U.S.
soybeans in the latest week at 1,692,900 tonnes, topping a range
of trade expectations for 1.1 million to 1.3 million. 
    * USDA on Thursday morning said that exporters reported the
sale of another 120,000 tonnes of soybeans to China for delivery
in the 2016/17 marketing year. That followed announcements of
other deals with the world's top buyer of the oilseed earlier
this week. 
    * USDA said export sales of corn totalled just 575,000
tonnes, below a range of trade expectations for 750,000 to
950,000 tonnes. The bearish figure hung over the corn market
throughout the trading day.
         
    MARKET NEWS  
    * The euro got off to an unusually quiet start in Asia on
Monday, having posted its worst weekly performance in three
months, as investors await more developments and ratings
downgrades from Europe.  
    * Oil edged lower in volatile trading on Friday, posting a
second consecutive weekly loss as caution about Europe's debt
crisis and year-end positioning continued to spark selling into
rallies.  
    * A rally in U.S. stocks fizzled, leaving major indexes with
modest gains on Friday, as Wall Street was torn between hope
that U.S. economic data signals better times ahead and fear
Europe's debt crisis will engulf world economies.  
    
    DATA AHEAD (GMT)
0145  China           Caixin manufacturing PMI final       Sep
0600  Germany         Retail sales                          Aug
0900  Euro zone       Inflation flash                      Sep
0900  Euro zone       Unemployment rate                    Aug
1230  U.S.            Personal income                      Aug
1345  U.S.            Chicago PMI                          Sep
    
    
 Grains
 prices at
  0058 GMT
 Cont  Last  Chan   Pct  Two-    MA  RSI 
 ract          ge   chg   day    30  
                          chg        
 CBOT  399.  0.25  +0.0  -1.1  408.    48
 whea    25          6%    8%    10  
 t                                   
 CBOT  329.  -0.2  -0.0  -0.8  332.    42
 corn    00     5    8%    3%    75  
 CBOT  948.  -2.2  -0.2  -0.4  969.    36
 soy     00     5    4%    7%    03  
 CBOT  9.78  $0.0  +0.0  -0.0  $9.7    51
 rice           1    5%    5%     9  
 WTI   47.7  -$0.  -0.1  +1.4  $45.    63
 crud     4    09    9%    7%    76  
 e                                   
 Curr                                    
 enci                                
 es                                  
 Euro  $1.1  -$0.  -0.1  -0.0            
 /dlr    21   002    3%    7%        
 USD/  0.76  -0.0  -0.1  -0.9            
 AUD     21    01    6%    0%        
 Most
 active
 contracts
 Wheat,
 corn and
 soy US
 cents/bus
 hel.
 Rice: USD
 per
 hundredwe
 ight
 RSI 14,
 exponenti
 al
 
 (Reporting by Colin Packham; Editing by Michael Perry)

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