SYDNEY, Dec 12 U.S. soybeans rose on Monday as dry weather concerns in Argentina underpinned the second
consecutive session of gains.
* The most active soybean futures on the Chicago Board Of Trade rose 0.6 percent to $10.43-3/4 a bushel, having
firmed 1 percent on Friday.
* The most active corn futures fell 0.14 percent to $3.59 a bushel, having gained 1.7 percent in the previous
* The most active wheat futures fell 0.3 percent to $4.15 a bushel, having closed up 1.96 percent on Friday.
* USDA in a monthly report left U.S. soybean, corn and wheat stockpile estimates unchanged and hiked global stockpiles to
account for bigger corn production in Brazil and wheat output in Australia.
* U.S. corn ending stocks were seen at 2.403 billion bushels, 10 million below analysts' estimates, with U.S. wheat pegged
at 1.143 billion bushels, 4 million above market expectations.
* The USDA put U.S. soybean ending stocks at 480 million bushels, unchanged from its estimate in November and 10 million
bushels above the analysts' average estimate from a Reuters survey.
* Soybeans draw support as dry weather in Argentina expected for the next week, although extended outlooks for
precipitation within the next 10 days could help alleviate dry conditions there.
* The dollar inched higher on Monday ahead of the U.S. Federal Reserve's meeting that was expected to deliver an interest
rate hike as well as clues to future monetary policy, while the euro remained under pressure after the European Central Bank's
dovish moves last week.
* Oil prices shot up by 4 percent to their highest level since 2015 early on Monday after OPEC and other producers over the
weekend reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up the market.
DATA AHEAD (GMT)
1900 U.S. Federal budget Nov
Grains prices at 0157 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 415.00 -1.25 -0.30% +1.65% 421.25 60
CBOT corn 359.00 -0.50 -0.14% +1.56% 355.84 59
CBOT soy 1043.75 6.25 +0.60% +1.63% 1015.5 58
CBOT rice 9.96 $0.04 +0.40% +1.94% $9.74 61
WTI crude 53.80 $2.30 +4.47% +5.82% $47.31 73
Euro/dlr $1.055 $0.000 -0.05% -0.57%
USD/AUD 0.7456 0.001 +0.07% -0.04%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential
(Reporting by Colin Packham; Editing by Sherry Jacob-Phillips)