SYDNEY, Dec 23 U.S. soybeans fell on Friday as
the oilseed was poised to record its biggest weekly loss in five
months as rains in Argentina boosted expectations for already
bumper production from South America.
* The most active soybean futures on the Chicago Board Of
Trade was down more than 4 percent for the week, the
biggest one-week fall since the week of July 22.
* The most active corn futures were down 2.5 percent
for the week, the biggest one week fall since the week of Aug.
* The most active wheat futures down nearly 3 percent
for the week, the second consecutive weekly fall.
* Soybeans under pressure as rains forecast for Argentina,
easing concerns about the threat of crop losses in one of the
world's largest exporters.
* Export demand for U.S. soybeans has been solid, with the
U.S. Department of Agriculture reporting weekly sales at 1.8
million tonnes. That was above analysts' expectations for 1.1 to
* U.S. corn export sales also topped expectations while
wheat sales barely missed analysts' estimates amid stiff
competition for business from other nations with ample supplies.
* In South America, Argentina's agriculture ministry raised
its projection for the country's 2016/17 wheat crop to 15.7
million tonnes from a previous estimate of 14.9 million.
* It was hard to find a pulse in the currency market on
Friday as dealers bedded down for the Christmas holidays, though
the mood remains bullish for more dollar gains in the New Year
as yield spreads widen in its favour.
* Oil prices slipped on Friday in thin Asian trade ahead of
the Christmas and New Year holidays, wiping out some of the
gains in the previous session as traders took profits. A strong
dollar also weighed on sentiment.
* U.S. stocks fell on Thursday, weighed down by weakness in
retailers, as investors stepped back from a recent rally fuelled
by optimism that President-elect Donald Trump will invigorate
DATA AHEAD (GMT)
0700 Germany GfK consumer sentiment Jan
0745 France GDP final Q3
0745 France Consumer spending Nov
0930 Britain GDP Q3
1500 U.S. New home sales Nov
Grains prices at 0258 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 397.75 0.75 +0.19% -0.44% 412.8 48
CBOT corn 347.25 0.00 +0.00% +0.00% 354.3 42
CBOT soy 991.75 -2.75 -0.28% -1.49% 1020. 29
CBOT rice 9.32 $0.04 +0.38% -0.48% $9.63 31
WTI crude 52.64 -$0.31 -0.59% +0.29% $49.3 64
Euro/dlr $1.044 $0.000 +0.03% +0.14%
USD/AUD 0.7207 -0.001 -0.10% -0.39%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential
(Reporting by Colin Packham; Editing by Christian Schmollinger)