SYDNEY, April 3 U.S. corn futures rose nearly 1
percent on Monday to hit a two-week high as forecasts from the
U.S. Department of Agriculture for smaller than expected
plantings underpinned gains.
* The most active corn futures on the Chicago Board Of Trade
was up 0.9 percent at $3.67-1/2 a bushel at 0120 GMT, near
the session high of $3.67-3/4 a bushel, the highest since March
20. Corn rose 1.9 percent in the previous session.
* The most active soybean futures rose 0.1 percent to
$9.46-3/4 a bushel after slumping 1.8 percent on Friday when
prices hit a low of 9.44-1/4 a bushel, the lowest since October
* The most active wheat futures rose 1.1 percent to
$4.31-1/4 a bushel, having closed up 1.3 percent on Friday.
* The U.S. Department of Agriculture (USDA) raised its
soybean plantings estimate by 7 percent from last year to 89.5
million acres, ahead of market expectations.
* Corn plantings were reduced by 4 percent to 90 million
acres, slightly below market expectations.
* Corn stocks as of March 1 were a record 8.616 billion
bushels, topping the 8.248 billion bushels reported in March
* USDA said users burned through a record 3.770 billion
bushels of corn from Dec. 1 to March 1.
* Wheat stocks stood at 1.655 billion bushels, the biggest
* The euro got off to an unusually quiet start in Asia on
Monday, having posted its worst weekly performance in three
months, as investors await more developments and ratings
downgrades from Europe.
* Oil edged lower in volatile trading on Friday, posting a
second consecutive weekly loss as caution about Europe's debt
crisis and year-end positioning continued to spark selling into
* A rally in U.S. stocks fizzled, leaving major indexes with
modest gains on Friday, as Wall Street was torn between hope
that U.S. economic data signals better times ahead and fear
Europe's debt crisis will engulf world economies.
DATA AHEAD (GMT)
0750 France Markit manufacturing PMI Mar
0755 Germany Markit/BME manufacturing PMI Mar
0800 Euro zone Markit manufacturing PMI final Mar
0900 Euro zone Producer prices Feb
0900 Euro zone Unemployment rate Feb
1400 U.S. Construction spending Feb
1400 U.S. ISM manufacturing PMI Mar
Grains prices at 0105 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 431.25 4.75 +1.11% +2.43% 438.18 59
CBOT corn 367.50 3.25 +0.89% +2.80% 367.08 67
CBOT soy 946.75 0.75 +0.08% -1.69% 1004.82 12
CBOT rice 9.92 $0.03 +0.25% +0.76% $9.74 67
WTI crude 50.60 $0.00 +0.00% +0.50% $50.58 69
Euro/dlr $1.067 $0.002 +0.23% -0.01%
USD/AUD 0.7635 0.001 +0.09% -0.07%
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)