SYDNEY, Oct 11 U.S. wheat rose for a second
consecutive session on Tuesday to hit a five-day high, with
prices supported as traders exited record short positions.
* The most active wheat futures on the Chicago Board of
Trade climbed 0.37 percent to $4.05-1/4 a bushel. That was
near their session-peak of $4.05-3/4 a bushel - the highest
since Oct. 6. Wheat closed up 2.3 percent on Monday.
* The most active soybean futures fell 0.1 percent to
$9.53-1/2 a bushel, having closed down 0.24 percent on
* The most active corn futures rose 0.15 percent to
$3.43-3/4, having gained 1 percent in the previous session.
* As of Oct. 4, commodity funds held their largest net short
position in CBOT wheat on record, weekly data released on Friday
from the U.S. Commodity Futures Trading Commission showed,
leaving the market vulnerable to short-covering rallies.
* The U.S. Department of Agriculture is expected on
Wednesday to trim its estimate of the U.S. corn yield in its
monthly supply/demand reports.
* Analysts expect the USDA on Wednesday to raise its
forecast of the U.S. soybean yield, which the government has
already projected at a record-high 50.6 bushels per acre.
* Soybeans came under pressure following an active harvest
weekend in the U.S. Midwest.
* The dollar firmed in early Asian trading on Tuesday, while
recently beleaguered sterling held close to recent lows on
continuing fears about the likely impact on Britain from exiting
the European Union.
* Oil prices edged down early on Tuesday but held near
one-year highs touched on growing expectations of an output cut
by OPEC producers, and traders said the price outlook remains
bullish as confidence in crude markets rises.
* U.S. stocks rose on Monday as energy shares gained with
oil prices and as Apple jumped due to rival Samsung Electronics'
worsening smartphone recall crisis.
DATA AHEAD (GMT)
0900 Euro zone Labour costs Q2
1230 U.S. Consumer prices Aug
1400 U.S. Univ of Michigan sentiment index Sep
1530 U.S. Cleveland Fed CPI Aug
Cont Last Chan Pct Two- MA RSI
ract ge chg day 30
CBOT 405. 1.50 +0.3 +2.4 400. 61
whea 25 7% 0% 74
CBOT 343. 0.50 +0.1 +0.9 334. 63
corn 75 5% 5% 23
CBOT 953. -1.0 -0.1 -0.5 959. 44
soy 50 0 0% 2% 76
CBOT 10.2 $0.0 +0.2 +1.4 $9.7 81
rice 6 3 4% 8% 6
WTI 51.2 -$0. -0.2 +2.7 $46. 72
crud 0 15 9% 9% 36
Euro $1.1 -$0. -0.6 -0.1
/dlr 13 007 2% 7%
USD/ 0.75 0.00 +0.1 +0.0
AUD 87 1 6% 7%
(Reporting by Colin Packham; Editing by Joseph Radford)