SYDNEY, Jan 11 U.S. soybeans fell for the first
time in three sessions on Wednesday, retreating from a five-day
high touched in the previous session, as traders squared
positions ahead of a widely watched report from the U.S.
Department of Agriculture later in the week.
* The most active soybean futures on the Chicago Board Of
Trade fell 0.64 percent to $10.07-1/4 a bushel, having
firmed 0.85 percent on Tuesday when prices hit a high of $10.15
a bushel - the highest since Jan. 5.
* The most active corn fell 0.5 percent to $3.56-1/2 a
bushel, having closed down 0.5 percent in the previous session.
* The most active wheat fell 0.53 percent to $4.24-1/2
a bushel, having closed down 0.1 percent on Tuesday.
* Soybeans are supported amid adverse weather in Argentina
* However, ample global supplies loom over soybean prices.
* U.S. wheat production is supported as rains are expected
across the Great Plains.
* But expectations that the USDA reports on Thursday will
show a sharp cutback in U.S. winter wheat seedings kept the
declines in check.
* The dollar trod water early on Wednesday, showing little
inclination to move against major peers such as the euro and yen
before U.S. President-elect Donald Trump fronts a news
conference that could set the market's near-term direction.
* Oil prices recovered slightly on Wednesday from steep
slides the previous day, but traders said markets remained under
pressure from signs that planned OPEC output cuts were being
poorly implemented and as supplies from elsewhere rose.
* The S&P 500 ended the day unchanged on Tuesday as lower
oil prices hurt energy stocks, offsetting advances in healthcare
and financial sectors, while the Nasdaq ended at another record
DATA AHEAD (GMT)
0500 Japan Leading indicator Nov
0500 Japan Coincident indicator Nov
0930 Britain Industrial output Nov
0930 Britain Trade data Nov
Grains prices at 0143 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 424.50 -2.25 -0.53% -0.64% 409.93 67
CBOT corn 356.50 -1.75 -0.49% -0.97% 354.33 56
CBOT soy 1007.25 -6.50 -0.64% +0.20% 1026.3 49
CBOT rice 9.69 $0.01 +0.16% +0.00% $9.79 54
WTI crude 50.94 $0.12 +0.24% -1.96% $51.91 35
Euro/dlr $1.056 $0.001 +0.07% -0.11%
USD/AUD 0.7362 0.000 -0.07% +0.14%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential
(Reporting by Colin Packham; Editing by Subhranshu Sahu)