SYDNEY, May 9 U.S. wheat inched higher on
Tuesday to move away from an 11-day low touched in the previous
session, but gains were checked as the U.S. government pegged
the condition of crops above market expectations.
* The most active wheat futures on the Chicago Board of
Trade rose 0.23 percent to $4.34-1/4 a bushel, having
closed down 1.9 percent on Monday when prices hit their lowest
since April 28 at $4.32-3/4 a bushel.
* The most active soybean futures climbed 0.13 percent
to $9.66 a bushel, having closed down 0.9 percent on Monday.
* The most active corn futures advanced 0.2 percent to
$3.66-1/2 a bushel, after ending down 1.3 percent in the
previous session when prices touched their weakest since April
28 at $3.65 a bushel.
* The U.S. Department of Agriculture's weekly crop progress
report rated 53 percent of the U.S. winter wheat crop in good to
excellent condition. The figure was down from 54 percent the
previous week, but above an average of analyst expectations for
* Wheat has been pressured by forecasts of favourable
weather for U.S. crops.
* The USDA said the U.S. corn crop was 47 percent planted as
of Sunday, behind the five-year average of 52 percent, but ahead
of an average of analyst estimates for 44 percent.
* The USDA said the U.S. soybean crop was 14 percent
planted, lagging the five-year average of 17 percent.
* Soybean imports to China in April rose 13.4 percent from a
year ago, supported by strong demand from the soymeal industry,
data from the General Administration of Customs of China showed.
* The euro pulled back from recent six-month highs on
Tuesday, but remained well-supported as fading worries over
political populism and signs of improving economic conditions in
Europe bolstered investor confidence.
* Oil prices rose on Monday in volatile trading, bolstered
by statements from major oil-producing countries suggesting that
OPEC and non-OPEC supply cuts could be extended into 2018.
* The S&P 500 ended flat on Monday after briefly touching a
record high, while Wall Street's "fear gauge" dropped to its
lowest in over two decades following centrist Emmanuel Macron's
victory in the French presidential election.
DATA AHEAD (GMT)
0600 Germany Industrial output Mar
0600 Germany Trade data Mar
1000 U.S. NFIB business optimism Apr
1400 U.S. Wholesale sales Mar
Grains prices at 0048 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 434.50 1.00 +0.23% -1.75% 439.26 43
CBOT corn 366.75 0.75 +0.20% -1.08% 369.29 42
CBOT soy 966.00 1.25 +0.13% -0.72% 962.44 47
CBOT rice 9.94 -$0.01 -0.05% +0.35% $10.09 60
WTI crude 46.62 $0.19 +0.41% +0.87% $49.97 34
Euro/dlr $1.092 $0.000 +0.02% -0.65%
USD/AUD 0.7390 0.000 +0.05% -0.38%
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)