SYDNEY, May 12 U.S. soybeans held steady on
Friday but the oilseed was poised to record its biggest one-week
fall in six weeks as forecasts for record global production
weighed on prices.
* The most active soybean futures on the Chicago Board Of
Trade down nearly 1 percent for the week, the biggest
seven-day fall in six weeks.
* The most active corn futures down nearly 0.5 percent
for the week, the first weekly fall in three weeks.
* The most active wheat futures down more than 1.5
percent, the first weekly slide in three weeks.
* The U.S. Department of Agriculture pegged world soybean
ending stocks for both the 2016-17 and 2017-18 marketing years
above trade expectations on Wednesday.
* Brazilian statistics agency Conab raised its estimate of
the country's 2016-17 crop to 113 million tonnes, from 110.2
million last month.
* The Buenos Aires Grains Exchange raised its estimate of
Argentina's crop to 57.5 million tonnes, from 56.5 million
* The USDA reported export sales of U.S. corn in the last
week at 222,600 tonnes (old and new marketing years combined),
the lowest for a single week since June 2014.
* The dollar fell for the first time in five days against
the yen on Thursday, as investors consolidated recent gains,
with concerns related to the fallout of U.S. President Donald
Trump's unexpected dismissal of Federal Bureau of Investigation
chief James Comey also undermining the currency.
* Oil prices rose for a second day on Thursday, closing more
than 1 percent higher as support grew for OPEC output cuts a day
after the U.S. government reported a big draw in crude
inventories, boosting confidence that a global glut might
* U.S. stocks fell on Thursday after worse-than-expected
sales drops at Macy's and Kohl's sparked a selloff in shares of
department stores and stirred fears that consumers are not
spending enough to drive strong economic growth.
DATA AHEAD (GMT)
0600 Germany GDP flash Q1
0900 Euro zone Industrial production Mar
1230 U.S. Consumer prices Apr
1230 U.S. Retail sales Apr
1400 U.S. Business inventories Mar
1400 U.S. Univ of Michigan sentiment index May
Grains prices at 0102 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 435.50 1.75 +0.40% +0.87% 438.42 53
CBOT corn 369.75 0.50 +0.14% -1.07% 369.96 47
CBOT soy 965.75 -0.50 -0.05% -0.46% 961.60 48
CBOT rice 10.68 $0.04 +0.38% +3.84% $10.13 82
WTI crude 47.87 $0.04 +0.08% +1.14% $49.77 52
Euro/dlr $1.086 $0.000 +0.03% -0.02%
USD/AUD 0.7373 0.000 -0.04% +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 Sonali Paul)