March 6, 2017 / 2:26 AM / in 5 months

CORRECTED-GRAINS-Soybeans edge higher on Brazilian supply disruption

3 Min Read

 (Corrects to show corn futures closed up 0.3 percent on Friday
not down 0.7 percent in third bullet point)
    SYDNEY, March 6 (Reuters) - U.S. soybeans edged higher on
Monday, drawing support from supply delays in Brazil, although
gains were checked by ample global supplies.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade rose 0.3 percent to $10.40-1/2 a bushel, having
closed little changed in the previous session.
    * The most active wheat futures rose 0.7 percent to
$4.56-3/4 a bushel, having closed up 0.2 percent on Friday. 
    * The most active corn futures were little changed at
$3.81 a bushel, having closed up 0.3 percent in the previous
session.
    * At least 11 ships are facing delays in loading soybeans at
Brazil's northern ports after rains washed out roads and
disrupted the progress of trucks carrying beans from the
centre-west region, Brazilian officials said on Thursday.

    * Russia, among the world's largest wheat exporters, is
considering exporting part of its 4 million tonne state grain
stockpile to free up storage space before the new crop arrives,
industry sources said.
         
    MARKET NEWS  
    * The dollar dipped in Asian trading on Monday, as investors
locked in gains after the greenback's rise last week on growing
expectations of a U.S. interest rate hike this month.  
    * Oil prices slipped in Asian trade on Monday, wiping out
some of the gains of the previous session amid ongoing concern
over Russia's compliance with a global deal to cut oil output.
  
    
     DATA AHEAD (GMT) 
0930  Euro zone             Sentix index             Mar 
1500  U.S.                  Factory orders           Jan
    
    
 Grains prices at  0143 GMT
 Contract       Last   Change   Pct chg  Two-day chg    MA 30  RSI 
 CBOT wheat   456.75     3.25    +0.72%       +0.88%   450.37    51
 CBOT corn    381.00     0.25    +0.07%       +0.40%   374.78    57
 CBOT soy    1040.50     3.00    +0.29%       +0.31%  1048.83    48
 CBOT rice      9.61    $0.02    +0.21%       -0.57%    $9.80    36
 WTI crude     53.14   -$0.19    -0.36%       +1.01%   $53.33    45
 Currencies                                                        
 Euro/dlr     $1.061  -$0.001    -0.12%       +0.96%               
 USD/AUD      0.7579   -0.001    -0.20%       +0.11%               
 
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Richard Pullin)
  

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