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GRAINS-Soybean prices fall, but Argentina planting delays curb losses
January 5, 2017 / 2:43 AM / 9 months ago

GRAINS-Soybean prices fall, but Argentina planting delays curb losses

SYDNEY, Jan 5 (Reuters) - U.S. soybean prices dropped on
Thursday after posting gains of 2 percent the day before,
dragged down by a weaker dollar.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board of
Trade fell 0.27 percent to $10.12-1/2 a bushel, having
firmed 2 percent on Wednesday.
    * The most active corn futures were little changed at
$3.59-1/2 a bushel, after gaining 1.1 percent in the previous
session when prices hit the highest since Dec. 15 at $3.60.
    * The most active wheat contract was little changed at
$4.18-1/4 a bushel, having closed up 3 percent on Wednesday. 
    * Soybean markets have been drawing support from
bargain-buying and concerns about planting delays in Argentina,
the world's No.3 exporter of the oilseed. 
    * Wheat prices have been buoyed after the U.S. Department of
Agriculture said on Tuesday that crop ratings fell in December
in parts of the U.S. Plains that endured a cold and dry month.
 
    
    MARKET NEWS  
    * The dollar stepped further away from a 14-year peak
against a basket of currencies on Thursday, as investors locked
in gains from its two-month-old rally since Donald Trump won the
U.S. presidential election.  
    * Oil prices dipped on Thursday on doubts producers would
fully deliver on promises to cut output, although record U.S.
automobile sales and falling crude stocks offered markets some
support.  
    * U.S. shares ended higher on Wednesday even after minutes
from the Federal Reserve's December meeting showed concerns that
quicker economic growth under President-elect Donald Trump could
require faster interest rate increases to ward off inflation.
  
    
    DATA (GMT)
1000 Euro Zone   Producer prices            Nov
1230 U.S.        Challenger layoffs         Dec 
1315 U.S.        ADP National employment    Dec 
1330 U.S.        Initial Jobless claims weekly 
1445 U.S.        Markit Svcs PMI Final      Dec
1500 U.S.        ISM N-Mfg PMI              Dec
    
    
 Grains prices at  0209 GMT
 Contract        Last   Change  Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat    418.25    -0.25   -0.06%       +2.89%  409.25    67
 CBOT corn     359.50    -0.25   -0.07%       +1.05%  354.60    65
 CBOT soy     1012.50    -2.75   -0.27%       +1.76%  1032.4    47
                                                           4  
 CBOT rice       9.72   -$0.02   -0.15%       +1.15%   $9.81    60
 WTI crude      53.11   -$0.15   -0.28%       +1.49%  $51.27    56
 Currencies                                                       
 Euro/dlr      $1.052   $0.003   +0.28%       +1.07%              
 USD/AUD       0.7281    0.000   -0.03%       +0.79%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Joseph Radford)

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