U.S. wheat fell on Tuesday from more than a two-week high
touched earlier in the session, as ample global supplies offset
support from signs of international demand for U.S. supplies.
* The most active wheat futures on the Chicago Board Of
Trade fell 0.5 percent to $4.15-1/4 a bushel after
touching $4.18-1/2 - the highest since November 28. Wheat closed
up 0.24 percent on Monday.
* The most active soybean futures rose 0.12 percent to
$10.32-1/4 a bushel, having closed down 0.63 percent on Monday.
* The most active corn futures were unchanged at
$3.60-1/2 bushel, having gained 0.28 percent in the previous
* Saudi Arabia's main state grain importer, the Saudi Grains
Organization (SAGO), said on Monday it had bought 725,000 tonnes
of hard wheat.
* Traders said they expected part of the purchase to be
sourced in the United States, which has struggled to gain
traction in the wheat export market as cheaper supplies have
been readily available from other countries.
* Soybeans were under pressure on forecasts of rains across
key producing areas in Argentina.
* Chinese buyers purchased 256,600 tonnes of U.S. soybeans,
the U.S. Department of Agriculture said.
* A weekly report from the U.S. Agriculture Department that
showed better-than-expected soybean export inspections also
offered little support.
* The dollar eased against the yen on Tuesday, coming off a
10-month high, as a surge in Treasury yields was tempered for
the time being.
* Oil prices were firm on Tuesday as the first signs of a
crude production cut organized by OPEC and other exporters
materialized, tightening a market that has been grappling with
ballooning oversupply for over two years.
* The S&P 500 and Nasdaq Composite fell on Monday after six
sessions of gains, weighed by tech sector stocks, while a rally
in energy shares petered out as crude oil gains withered.
DATA/EVENT AHEAD (GMT)
0200 China Industrial output Nov
0200 China Retail sales Nov
0200 China Urban investment Nov
0700 Germany Wholesale price index Nov
0930 Britain Consumer prices Nov
1000 Germany ZEW economic sentiment Dec
1000 Euro zone Employment Q3
1100 U.S. NFIB business optimism Nov
1330 U.S. Import prices Nov
1330 U.S. Export prices Nov
Federal Reserve starts two-day policy meeting
Grains prices at 0237 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 415.25 -2.00 -0.48% +1.71% 421.26 59
CBOT corn 360.50 0.00 +0.00% +1.98% 355.89 64
CBOT soy 1032.25 1.25 +0.12% +0.51% 1015.16 50
CBOT rice 9.89 $0.03 +0.30% +1.18% $9.73 58
WTI crude 52.65 -$0.18 -0.34% +3.56% $47.27 68
Euro/dlr $1.063 $0.007 +0.66% +0.13%
USD/AUD 0.7492 0.004 +0.55% +0.44%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential
(Reporting by Colin Packham; Editing by Vyas Mohan)