SYDNEY, Dec 28 - U.S. corn edged lower on Wednesday, falling
from an eight-day high touched in the previous session, as ample
global supplies again weighed on prices.
* The most active corn futures on the Chicago Board Of Trade
fell 0.14 percent to $3.54-1/2, having gained 2.7 percent
in the previous session when prices went as high as $3.56 a
bushel, the most since Dec. 19.
* The most active soybean futures were unchanged at
$10.14-1/2 a bushel, having firmed 2.6 percent on Tuesday when
prices rose to as much as $10.15-1/4 a bushel, the highest since
* The most active wheat futures rose 0.12 percent
to$4.10 a bushel, having closed up 4 percent on Tuesday when
prices climbed to their highest since Dec. 19 at $4.11 a bushel.
* Large speculators expanded their net short positions in
CBOT wheat and corn futures in the week to Dec. 20, U.S.
Commodity Futures Trading Commission data showed, leaving those
markets vulnerable to bouts of short-covering.
* Strong weekly export inspections data lent support. The
U.S. Department of Agriculture said 1.7 million tonnes of U.S.
soybeans were inspected for export in the latest week, toward
the high end of trade expectations.
* Heavy rains that pelted parts of Argentina over the
weekend did not reach the southeastern part of the bread-basket
province of Buenos Aires, where dryness is threatening to dent
soybean production, local farm weather experts said on Monday.
* The dollar edged up against the yen on Wednesday within
sight of a 10-1/2 month high in thin holiday trade, after strong
U.S. economic data reinforced expectations that the U.S. Federal
Reserve would be more hawkish in the year ahead.
* Oil prices edged down on Wednesday in quiet early Asian
trading as the market waits to see how OPEC and non-OPEC members
follow through on planned supply cuts in 2017.
* U.S. stocks rose slightly on Tuesday, supported by upbeat
consumer and housing data, with gains in technology shares
lifting the Nasdaq Composite to a record close.
1500 US Pending home sales Nov
Grains prices at 0200 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 410.00 0.50 +0.12% +4.19% 411.95 63
CBOT corn 354.50 -0.50 -0.14% +2.53% 354.62 59
CBOT soy 1014.50 -0.25 -0.02% +2.58% 1022.5 51
CBOT rice 9.58 $0.04 +0.47% +1.43% $9.84 32
WTI crude 53.84 -$0.06 -0.11% +1.55% $50.05 74
Euro/dlr $1.047 $0.001 +0.11% +0.13%
USD/AUD 0.7203 0.002 +0.32% +0.26%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential
(Reporting by Colin Packham; Editing by Kenneth Maxwell)