SYDNEY, May 25 U.S. wheat edged higher on
Thursday to extend two-day gains to nearly 1 percent as
investors covered short positions, but easing concerns about the
state of U.S. crops dragged.
* The most active wheat futures on the Chicago Board of
Trade rose 0.23 percent to $4.33-1/2 a bushel, having
closed up a touch on Wednesday.
* Wheat gains were checked though by a slight improvement in
weekly winter wheat condition ratings.
* The most active soybean futures climbed 0.21 percent
to $9.50-1/4 a bushel, after ending Wednesday little changed.
* The most active corn futures rose 0.27 percent to
$3.72-1/4 a bushel, having gained 0.5 percent the day before.
* The dollar was on the defensive early on Thursday after
minutes of the latest Federal Reserve policy meeting were not as
hawkish as anticipated, while the euro edged back up towards a
* Oil prices retreated slightly on Wednesday as investors
reacted to a smaller-than-expected U.S. gasoline stocks draw as
they awaited the outcome of discussions in Vienna between OPEC
and other oil-exporting countries on whether to extend output
* U.S. stocks ended up slightly on Wednesday, with the S&P
500 hitting a record high close.
DATA AHEAD (GMT)
0830 Britain GDP 2nd release Q1
1230 U.S. Trade balance Apr
1230 U.S. Wholesale inventory Apr
1230 U.S. Weekly jobless claims
Grains prices at 0119 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 433.50 1.00 +0.23% +0.93% 433.69 60
CBOT corn 372.25 1.00 +0.27% +0.74% 369.83 58
CBOT soy 950.25 2.00 +0.21% +0.21% 963.02 43
CBOT rice 11.04 -$0.01 -0.14% +1.19% $10.25 71
WTI crude 51.75 $0.39 +0.76% +0.54% $49.27 78
Euro/dlr $1.123 $0.001 +0.07% +0.38%
USD/AUD 0.7493 -0.001 -0.12% +0.25%
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)