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GRAINS-Wheat prices edge up, move away from 1-month low
March 14, 2017 / 1:56 AM / 7 months ago

GRAINS-Wheat prices edge up, move away from 1-month low

    SYDNEY, March 14 (Reuters) - U.S. wheat edged up on Tuesday
to move away from a one-month low touched in the previous
session, though forecasts for beneficial rains capped gains.
    * The most active wheat futures on the Chicago Board of
Trade rose 0.3 percent to $4.31-3/4 a bushel. They closed
down 2 percent on Monday, after hitting their weakest since Feb.
9 at 4.30 a bushel.
    * The most active soybean futures fell 0.2 percent to
$10.08-1/4 a bushel, near the session-low of $10.03 - the
weakest since Jan. 11. Soybeans closed little changed on Monday.
    * The most active corn futures were unchanged at $3.61
a bushel. They closed down 0.9 percent in the previous session,
when prices marked their lowest since Feb. 1 at $3.60-1/2.
    * The Commodity Weather Group said updated forecasts raised
the likelihood of much-needed rain in the U.S. Southern Plains,
although showers could miss some dry areas.
    * The U.S. Department of Agriculture reported export
inspections of U.S. corn in the latest week at 1,547,022 tonnes,
at the high end of a range of trade expectations.

    * Private analytics firm Informa Economics raised its
projection of U.S. 2017 corn plantings to 90.8 million acres,
from its January forecast of 90.5 million, trade sources said.
The firm increased its soybean plantings forecast to 88.7
million acres, up about 21,000 acres from January.
    * The dollar inched up against a basket of currencies on
Tuesday as U.S. Treasury yields extended their rise ahead of an
expected interest rate hike by the Federal Reserve.  
    * Crude oil prices hovered near three-month lows on Tuesday
in early Asian trading as investors await key reports and data
that may shed light on a supply overhang in the global market.
    * U.S. stocks ended little changed in light volume on
0200  China            Industrial output                   Jan 
0200  China            Retail sales                        Jan 
0200  China            Urban investment                    Jan 
1000  Germany          ZEW economic sentiment              Mar 
1000  Euro zone        Industrial production               Jan 
1000  U.S.             NFIB business optimism              Feb 
      U.S.             Federal Open Market Committee starts
two-day meeting 
 Grains prices at  0121 GMT
 Contract       Last   Change  Pct chg  Two-day chg    MA 30  RSI 
 CBOT wheat   431.75     1.25   +0.29%       -1.99%   450.80    27
 CBOT corn    361.00     0.00   +0.00%       -0.89%   374.07    26
 CBOT soy    1004.25    -1.75   -0.17%       -0.22%  1039.25    29
 CBOT rice      9.83   -$0.01   -0.05%       +1.50%    $9.71    73
 WTI crude     48.32   -$0.08   -0.17%       -0.35%   $52.65    14
 Euro/dlr     $1.065   $0.000   -0.02%       -0.17%               
 USD/AUD      0.7550   -0.002   -0.22%       +0.13%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 (Reporting by Colin Packham; Editing by Joseph Radford)

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