May 18, 2017 / 1:24 AM / 3 months ago

GRAINS-Soybeans fall 1 percent, hit three-day low

    SYDNEY, May 18 (Reuters) - U.S. soybeans fell more than 1
percent on Thursday as a drop in the Brazilian real stoked
expectations that South American farmers would increase sales.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade fell 1.1 percent to $9.64-3/4 a bushel by 0040 GMT,
near the session low of $9.63-3/4 a bushel - the lowest since
May 15. Soybeans were little changed on Wednesday.
    * The most active corn fell 0.7 percent to $3.68-3/4 a
bushel, having gained 1 percent in the previous session.
    * The most active wheat fell 0.3 percent to $4.25-3/4
a bushel, having closed up 0.6 percent on Wednesday. 
    * Soybeans pressured by a weaker Brazilian real, which may
encourage farmers to sell their ample supplies.
    * Egypt's main state wheat buyer purchased two cargoes of
U.S. hard red winter wheat in an international tender along with
cargoes from Romania, Ukraine and Russia. Egypt's General
Authority for Supply Commodities said it bought a total of
295,000 tonnes of wheat.
    * Soybeans supported by persistent Chinese demand and as
U.S. farmers slow sales.
         
    MARKET NEWS  
    * The dollar fell by nearly 2 percent against the yen to its
lowest level since April and hit a six-month low against the
Swiss franc on Wednesday as talk that U.S. President Donald
Trump could face the threat of impeachment boosted safe-haven
assets.  
    * Oil prices settled at a two-week high on Wednesday after
U.S crude inventories declined for the sixth straight week, a
positive sign for markets ahead of next week's OPEC meeting,
where major oil producers are expected to extend supply cuts.
  
    * The S&P 500 and the Dow notched their biggest one-day fall
since Sept. 9 as investor hopes for tax cuts and other
pro-business policies faded after reports that U.S. President
Donald Trump tried to interfere with a federal investigation set
off alarm bells on Wall Street.  
    
    DATA AHEAD (GMT) 
0130  China                 House prices                     Apr
0830  Britain               Retail sales                     Apr
1230  U.S.                  Weekly jobless claims 
1230  U.S.                  Philly Fed business index        May
1400  U.S.                  Leading index                    Apr
        
 Grains prices at  0040 GMT
 Contract      Last   Change  Pct chg   Two-day chg   MA 30  RSI 
 CBOT wheat  425.75    -1.25   -0.29%        +0.35%  435.73    49
 CBOT corn   368.75    -2.75   -0.74%        +0.27%  369.70    57
 CBOT soy    964.75   -11.00   -1.13%        -1.18%  963.97    52
 CBOT rice    10.91    $0.00   +0.00%        +2.68%  $10.18    82
 WTI crude    48.99   -$0.08   -0.16%        +0.68%  $49.53    59
 Currencies                                                      
 Euro/dlr    $1.116   $0.000   +0.02%        +0.70%              
 USD/AUD     0.7425   -0.001   -0.08%        -0.01%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Richard Pullin)
  

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