SYDNEY, Dec 8 U.S. wheat futures edged higher on
Thursday, rebounding from a five-day low touched in the previous
session, although ample global supplies put a ceiling on gains.
* The most active wheat futures on the Chicago Board Of
Trade rose 0.5 percent to $4.03 a bushel, having closed
down 1.4 percent on Wednesday when prices fell to a low of
$3.99-1/2 a bushel - the lowest since Dec. 2.
* The most active soybean futures fell 0.3 percent to
$10.45-3/4 a bushel, having closed down 0.1 percent on
* The most active corn futures fell 0.1 percent to
$3.57-1/2 a bushel, having closed down 0.7 percent in the
* Canada's Statscan on Tuesday put the country's all-wheat
crop at 31.7 million tonnes, up 15 percent from last year and
exceeding the average trade expectation of 30.7 million tonnes.
* Australia, another major supplier, this week raised its
official forecast for 2016-17 wheat production to a record 32.64
* Soybeans supported by worries about dry weather in
* The U.S. Department of Agriculture said private exporters
in the last day sold 466,000 tonnes of U.S. soybeans to China
and unknown destinations.
* Analysts surveyed by Reuters on average expect the
government to lower its forecast of U.S. 2016/17 soybean ending
stocks and leave its figures for corn and wheat ending stocks
* The euro held firm near a three-week high versus the
dollar on Thursday, as investors turned their attention to the
European Central Bank's policy meeting later in the day, and as
the greenback was dragged down by a drop in U.S. bond yields.
* Oil prices slid on Wednesday on bearish U.S. petroleum
inventory data and doubts that production cuts promised by OPEC
and Russia would be deep enough to end a supply overhang that
has weighed on markets for more than two years.
* Wall Street surged on Wednesday, with the Dow industrials
and S&P 500 hitting fresh records, as equities continued their
march upward after the election of Donald Trump as U.S.
president, and a new high for transportation stocks added to the
DATA/EVENT AHEAD (GMT)
China Trade data Nov
1245 European Central Bank policy meeting outcome
1330 U.S. Weekly jobless claims
Grains prices at 0142 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 403.00 2.00 +0.50% -0.92% 422.28 42
CBOT corn 357.50 -0.50 -0.14% -0.83% 356.49 59
CBOT soy 1045.75 -3.25 -0.31% -0.19% 1014.6 63
CBOT rice 9.89 -$0.04 -0.40% -0.70% $9.76 59
WTI crude 49.93 $0.16 +0.32% -1.96% $47.05 56
Euro/dlr $1.076 $0.001 +0.10% +0.42%
USD/AUD 0.7484 0.001 +0.07% +0.32%
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)