SYDNEY, Oct 5 U.S. soybean prices edged lower on
Wednesday to extend losses into a second session, hit by
expectations of bumper supply.
* The most active soybean futures on the Chicago Board of
Trade dropped 0.1 percent to $9.62-1/2 a bushel, having
closed down 1 percent on Tuesday.
* The most active corn futures fell 0.1 percent to
$3.48 a bushel, after gaining 0.65 percent in the previous
session when they marked their highest since July 20 at $3.49.
* The most active wheat futures were unchanged at
$3.95-1/2 a bushel, having closed steady on Tuesday.
* The U.S. soybean harvest was 26 percent complete as of
Sunday, ahead of the trade estimates' average of 25 percent but
behind the five-year average of 27 percent, the U.S. Department
of Agriculture (USDA) said.
* The USDA also said 74 percent of U.S. soybeans were in
good or excellent shape, up 1 percentage point from a week ago.
* INTL FCStone raised its estimate of the average U.S. 2016
soybean yield to a record 52.5 bushels per acre (bpa), from 50.1
in its previous monthly report.
* U.S. soybean export prospects were boosted by news that
Argentina will not reduce export taxes this year or next as
* The USDA said the U.S. corn harvest was 24 percent
complete by Sunday, behind the trade estimates' average of 25
percent and the five-year average of 27 percent.
* The U.S. winter wheat crop was 43 percent planted, behind
the five-year average of 45 percent and analysts' average
expectation of 47 percent.
* The dollar hovered near a two-month high against a basket
of currencies on Wednesday, lifted by hawkish comments from a
Federal Reserve official and a sharp rise in U.S. Treasury
* Oil prices rose in early trading on Wednesday after a
report that U.S. fuel inventories may have fallen for a fifth
straight week, but contracts remained near the $50 marker where
many traders currently see fair value for crude.
* U.S. stocks dropped on Tuesday as investors fretted about
Britain's exit from the European Union and the prospect of a Fed
interest rate hike in coming months.
DATA AHEAD (GMT)
0750 France Markit services PMI Sep
0755 Germany Markit services PMI Sep
0800 Euro zone Markit services PMI final Sep
0900 Euro zone Retail sales Aug
1215 U.S. ADP national employment Sep
1230 U.S. International trade Aug
1400 U.S. ISM non-manufacturing PMI Sep
Cont Last Chan Pct Two- MA RSI
ract ge chg day 30
CBOT 395. 0.00 +0.0 -1.6 403. 40
whea 50 0% 2% 55
CBOT 348. -0.2 -0.0 +3.3 332. 72
corn 00 5 7% 4% 84
CBOT 962. -1.0 -0.1 +0.8 964. 50
soy 50 0 0% 9% 26
CBOT 10.0 -$0. -0.1 +2.0 $9.7 71
rice 9 01 0% 2% 5
WTI 49.1 $0.4 +0.9 +0.7 $45. 69
crud 6 7 7% 2% 87
Euro $1.1 $0.0 -0.0 -0.2
/dlr 21 00 1% 7%
USD/ 0.76 -0.0 -0.6 -0.4
AUD 20 05 5% 4%
(Reporting by Colin Packham; Editing by Joseph Radford)