SYDNEY, Oct 6 U.S. wheat edged higher on
Thursday to extend two-day gains to nearly 3.5 percent as
traders exited near record levels of short positions, although
ample global supplies provided a ceiling to gains.
* The most active wheat futures on the Chicago Board Of
Trade rose 0.4 percent to $4.06-1/2 a bushel, having
closed up 2.9 percent on Wednesday when prices hit a high of
$4.08-1/2 a bushel - the highest since Sept. 23.
* The most active soybean futures fell 0.2 percent to
$9.55-1/4 a bushel, having closed down 0.7 percent on Wednesday.
* The most active corn futures fell 0.3 percent to
$3.46-3/4 a bushel, having closed down 0.1 percent in the
* Wheat jumps on short covering. The U.S. Commodity Futures
Trading Commission's latest commitments report showed that as of
Sept. 27, non-commercial traders held the fourth-largest net
short position in records dating to 2006. That big net short
left the wheat market vulnerable to short-covering rallies.
* Informa Economics, a private analytics firm, forecast U.S.
2016 soybean production at 4.3 billion bushels with a yield of
51.6 bushels per acre (bpa), trade sources said.
* Commodity brokerage INTL FCStone raised its soy yield
estimate to a record 52.5 bushels per acre.
* Both firms' yield figures were above the U.S. Department
of Agriculture's last official forecast of 50.6 bpa, signalling
a possible increase when the government updates its figures on
* The dollar stood tall against the yen on Thursday in early
Asian trading and was steady against other rivals ahead of this
week's nonfarm payrolls report that could reinforce expectations
that the U.S. Federal Reserve will hike interest rates by
* Oil prices settled up about 2 percent on Wednesday,
hitting their highest since June, after the fifth unexpected
weekly drawdown in U.S. crude inventories added to support on
hopes that major producers will agree to cut output next month.
* Stocks on Wall Street rose Wednesday led by the energy
sector as oil prices rallied and as financials gained on the
increasing likelihood of an interest rate hike after strong
DATA AHEAD (GMT)
0900 Euro zone Industrial production Jul
1230 U.S. Import prices Aug
1230 U.S. Export prices Aug
Cont Last Chan Pct MA RSI
ract ge chg 30
CBOT 406. 1.50 +0.37 402. 60
whea 50 % 85
CBOT 346. -1.0 -0.29 333. 69
corn 75 0 % 17
CBOT 955. -1.5 -0.16 962. 44
soy 25 0 % 35
CBOT 10.0 $0.0 +0.00 $9.7 65
rice 4 0 % 5
WTI 49.6 -$0. -0.42 $45. 70
crud 2 21 % 99
Euro $1.1 -$0. -0.05
/dlr 20 001 %
USD/ 0.76 -0.0 -0.77
AUD 11 06 %
(Reporting by Colin Packham; Editing by Richard Pullin)