Reuters logo
GRAINS-Soybeans firm in first day of trading in 2017
January 3, 2017 / 1:44 AM / 10 months ago

GRAINS-Soybeans firm in first day of trading in 2017

SYDNEY, Jan 3 (Reuters) - U.S. soybeans rose 0.5 percent on
Tuesday, rebounding from two consecutive sessions of losses,
though ample global supplies provided a lid to gains.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade climbed 0.47 percent to $10.08-3/4 a bushel, having
closed down 0.86 percent on Friday.
    * The most active corn futures advanced 0.5 percent to
$3.53-3/4 a bushel, having gained 0.6 percent in the previous
session.
    * The most active wheat futures was little changed at
$4.08-1/4 a bushel, having closed up 0.8 percent on Friday. 
    * The U.S. Department of Agriculture reported export sales
of old-crop wheat in the latest week at 568,000 tonnes, above a
range of trade expectations for 200,000-500,000 tonnes.
 
    * Wheat prices also drew some support on fears over
potential crop damage from forecasts for cold weather in the
coming weeks.
    * Argentina will cut its soybean export tax by 12 percentage
points to 18 percent by 2020, the government said on Monday, a
move expected to spur more planting in the South American grains
powerhouse at a time of rising world food demand. [nL1N1ES0DQ
         
    MARKET NEWS  
    * The U.S. dollar held on to broad gains on Tuesday,
resuming its ascent after last week's brief wobble as the
prospect of rising U.S. interest rates this year kept sentiment
bullish in the long run.  
    * U.S. oil prices rose in the first trading hours of 2017 on
Tuesday, buoyed by a deal for OPEC and non-OPEC member
production cuts which kicked off on Sunday.  
    
 Grains prices at  0123 GMT
 Contract        Last   Change  Pct chg   Two-day chg   MA 30  RSI 
 CBOT wheat    408.25     0.25   +0.06%        +0.86%  410.18    56
 CBOT corn     353.75     1.75   +0.50%        +1.14%  354.45    56
 CBOT soy     1008.75     4.75   +0.47%        -0.39%  1033.0    45
                                                            9  
 CBOT rice       9.66    $0.04   +0.47%        +1.58%   $9.82    48
 WTI crude      54.02    $0.30   +0.56%        +0.46%  $50.88    69
 Currencies                                                        
 Euro/dlr      $1.048   $0.002   +0.17%        -0.36%              
 USD/AUD       0.7201    0.002   +0.28%        -0.19%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
    

 (Reporting by Colin Packham; Editing by Kenneth Maxwell)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below