SINGAPORE, April 21 Chicago wheat futures were
little changed on Friday after dropping to a four-month low
earlier in the session, pressured by plentiful global supplies.
Soybeans ticked higher, recouping the previous session's
decline, while corn edged up after dropping more than 1 percent
* For the week, July wheat contract has given up
almost 5 percent, the biggest weekly decline in eight months.
Corn has lost 3.5 percent after gaining almost 3 percent
last week, and soybeans are down 0.6 percent, giving up
some of last week's gains.
* The wheat market on Thursday suffered its biggest daily
loss since late August. Large export surpluses in key global
suppliers are shackling Chicago wheat futures.
* The market absorbed weather forecasts for the U.S. Plains
and Midwest that were largely favourable for winter wheat crops
as they near maturity.
* The U.S. Agriculture Department on Thursday said weekly
export sales of soybeans fell to 225,000 tonnes (old-crop and
new-crop combined), below trade forecasts for 400,000-800,000
* Corn export sales came in at 848,200 tonnes, near the low
end of expectations. Export sales of wheat were 551,100 tonnes.
* Brazilian farmers should produce a record 2016-17 corn
crop of 93.2 million tonnes this year, a Reuters poll indicated
on Thursday, topping the 89.6 million tonnes expected in a
* Corn output will be boosted by a record second corn crop
(winter crop), seen by market analysts surveyed by Reuters at 63
million tonnes. Soy production in 2016-17 is expected to reach
110.8 million tonnes compared to 106.8 million tonnes in a
* Asian stocks rose, lifted by bets on strong U.S. earnings
and U.S. tax reform, while the euro retreated from a three-week
high as jitters returned over the first round of French
presidential elections on Sunday after a shooting in Paris.
DATA AHEAD (GMT)
0700 France Markit manufacturing flash PMI Apr
0730 Germany Markit manufacturing flash PMI Apr
0800 Euro zone Markit manufacturing flash PMI Apr
0800 Euro zone Markit services flash PMI Apr
0830 Britain Retail sales Mar
1345 U.S. Markit manufacturing flash PMI Apr
1345 U.S. Markit services flash PMI Apr
1400 U.S. Existing home sales Mar
1400 G20 Finance Ministers and Central Bank Governors
meeting in Washington (to April 22)
Grains prices at 0127 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 406.50 0.25 +0.06% -3.79% 427.42 25
CBOT corn 358.00 0.25 +0.07% -1.04% 362.63 37
CBOT soy 949.75 3.00 +0.32% +0.40% 969.95 48
CBOT rice 9.83 -$0.02 -0.20% -2.19% $9.94 27
WTI crude 50.79 $0.08 +0.16% +0.69% $50.08 42
Euro/dlr $1.072 $0.008 +0.73% +1.03%
USD/AUD 0.7524 -0.006 -0.82% -0.63%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per
RSI 14, exponential
(Reporting by Naveen Thukral; Editing by Kenneth Maxwell)