SYDNEY, June 2 U.S wheat prices edged lower on
Friday on forecasts of harvest-friendly weather in parts of the
United States, keeping the grain on track for its biggest weekly
loss in over two months.
* The most active wheat futures on the Chicago Board of
Trade were down 2.5 percent for the week, set for their
biggest weekly loss since March 24.
* The most active soybean futures have fallen 1.5
percent over the week, the fourth consecutive weekly loss.
* The most active corn futures have dropped more than
1 percent for the week, the first weekly slide in six weeks.
* Wheat was under pressure as weather forecasts raised the
prospect of an early start to harvesting bumper U.S. supplies.
* Argentina's government replaced striking sanitary
inspection workers in the main agricultural port of Rosario,
allowing shipments to resume albeit with delays after the job
action halted exports from there on Wednesday.
* The dollar hit a one-week high against the yen early on
Friday, on the front foot after upbeat U.S. private sector job
figures and awaiting the closely-watched non-farm payrolls
report for another potential boost.
* Oil prices dropped nearly 1 percent in early Asian trade
on Friday, dragged down by ongoing concerns over a global glut
in crude supply despite a bigger-than-expected draw in U.S.
* U.S. stocks advanced on Thursday, with each of the major
U.S. indexes notching record highs, after a batch of economic
data suggested the economy was picking up speed.
DATA/EVENT AHEAD (GMT)
0730 EU-China Business Summit with speakers including
European Commission President Jean-Claude Juncker and
Chinese Prime Minister Li Keqiang
0900 Euro zone Producer prices Apr
1230 U.S. Nonfarm payrolls May
1230 U.S. Unemployment rate May
1230 U.S. International trade Apr
1345 U.S. ISM-New York index May
Grains prices at 0129 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 427.25 -1.75 -0.41% -0.47% 432.63 48
CBOT corn 370.00 -0.50 -0.13% -0.54% 369.85 52
CBOT soy 911.75 -0.50 -0.05% -0.46% 955.16 24
CBOT rice 11.12 $0.06 +0.59% -0.13% $10.37 66
WTI crude 48.06 -$0.30 -0.62% -0.54% $48.69 37
Euro/dlr $1.122 $0.001 +0.06% -0.20%
USD/AUD 0.7385 0.001 +0.18% -0.59%
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)