March 31, 2017 / 2:13 AM / 5 months ago

GRAINS-Soybeans hit lowest in over 5 months, set to finish quarter down 4 pct

    SYDNEY, March 31 (Reuters) - U.S. soybeans climbed on Friday, after hitting their lowest in more than five months earlier in the session, as
expectations of ample global supplies pushed the oilseed towards a three-month loss of more nearly 4 percent.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of Trade rose 0.16 percent to $9.66 a bushel on Friday. Earlier in the session,
they hit $9.60-3/4 a bushel, their lowest since Oct. 14, 2016.
    * Soybeans slid nearly 4 percent for the quarter, losing much of the gains from the fourth quarter of 2016.
    * The most active corn futures climbed nearly 2 percent for the quarter, on track to post their second straight quarterly gain.
    * The most active wheat futures up more than 3.5 percent for the quarter, the biggest three-month gain since June 2015.
    * Market readying for USDA annual prospective plantings and quarterly grain stocks reports later in the day - data releases that typically
result in increased volume and volatility.
    * USDA data released on Thursday showed weekly U.S. corn export sales of 716,000 tonnes for shipment during the current marketing season, below
estimates for 900,000 to 1.2 million tonnes. Weekly sales of soybeans and wheat were above estimates. 
    * USDA planting and stocks reports could increase supply pressure by showing a jump in the U.S. soybean planted area and a rise in soybean, corn
and wheat inventories.
    * Soybeans were pulled down over concerns that demand from China may fall after crush margins for imported soybeans in China's Shandong province
JCI-SBMG-SHDNI slid to a negative 166 yuan, the lowest since August.
             
    MARKET NEWS  
    * The dollar edged up in Asian trading on Friday, poised for weekly gains after solid U.S. economic data contrasted with figures showing euro
zone inflation cooling.  
    * Oil prices eased on Friday as traders took profits following three days of straight gains on the expectation that an OPEC-led crude supply cut
that was initially supposed to only last for the first half of the year would be extended.  
    * Wall Street gained on Thursday, led by financial shares, after data showed U.S. economic growth was stronger than previously reported last
quarter, helped by robust consumer spending, and the tech-heavy Nasdaq set a record closing high.  
    
    DATA AHEAD (GMT) 
0100  China          Official manufacturing PMI           Mar 
0100  China          Official non-manufacturing PMI       Mar 
0600  Germany        Retail sales                         Feb 
0645  France         Consumer spending                    Feb 
0645  France         Producer prices                      Feb 
0800  Germany        Unemployment rate                    Mar 
0830  Britain        GDP                                  Q4 
0900  Euro zone      Inflation flash                      Mar 
1230  U.S.           Personal income                      Feb 
1345  U.S.           Chicago PMI                          Mar 
     
 Grains prices at  0133 GMT
 Contract      Last   Change   Pct chg  Two-day chg    MA 30  RSI 
 CBOT wheat  423.00     2.00    +0.48%       -0.59%   438.91    47
 CBOT corn   358.50     1.00    +0.28%       +0.00%   367.13    46
 CBOT soy    965.75     2.75    +0.29%       -0.34%  1008.70    24
 CBOT rice     9.81   -$0.04    -0.36%       -0.56%    $9.73    55
 WTI crude    50.25   -$0.10    -0.20%       +1.49%   $50.66    65
 Currencies                                                       
 Euro/dlr    $1.068   $0.001    +0.07%       -0.78%               
 USD/AUD     0.7653    0.001    +0.17%       -0.18%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 

 (Reporting by Colin Packham; Editing by Sherry Jacob-Phillips)
  

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