MANILA, April 19 U.S. corn futures slipped to
their lowest in one and a half weeks on Wednesday amid
expectations of dry weather in the country's corn belt that will
allow farmers to speed up seeding next week. Wheat and soybeans
also edged lower.
* Corn for May delivery on the Chicago Board of Trade
was down 0.1 percent at $3.61-1/4 a bushel by 0120 GMT, after
falling as far as $3.60-1/2 earlier.
* Weather forecasters are looking at drier weather at the
end of April or start of May in the U.S. Midwest which should
allow farmers to make better progress with fieldwork,
Commonwealth Bank of Australia analyst Tobin Gorey said in a
* Chicago soybeans eased 0.2 percent to $9.44-1/4 a
bushel, extending losses to a third straight session.
* Traders pointed to concerns about soy demand following the
release of disappointing U.S. export data and a bearish monthly
crush report on Monday. Improving weather in Argentina also
added to worries that supplies will outstrip global needs as the
harvest in South America progresses, they said.
* The National Oilseed Processors Association said U.S.
processors crushed fewer soybeans than expected during March at
153.060 million bushels.
* Wheat slipped 0.3 percent to $4.21-1/4 per bushel.
* While "the market appeared to find a small seam of late
buying" after wheat recently dipped below the $4.35 level,
prices remain near season lows due to the weight of global
supply, said CBA's Gorey.
* Sterling stole the show in Asia amid speculation Britain's
surprise decision to call a snap election could ultimately
deliver a more market-friendly outcome in its divorce from the
* Safe-havens stayed in favour as gold and bonds climbed
ahead of presidential elections in France and on escalating
tensions between the United States and North Korea.
DATA AHEAD (GMT)
0900 Euro zone Eurostat trade Feb
0900 Euro zone Inflation final Mar
1800 U.S. Federal Reserve's Beige Book
(Reporting by Manolo Serapio Jr.; Editing by Kenneth Maxwell)