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GRAINS-Weather fears help push wheat prices to 1-week high
March 2, 2017 / 1:52 AM / 9 months ago

GRAINS-Weather fears help push wheat prices to 1-week high

    SYDNEY, March 2 (Reuters) - U.S. wheat edged up on Thursday
to hit a one-week high, supported by signs of increased global
demand and by concerns over potentially adverse weather for
North American crops.
    * The most active wheat futures on the Chicago Board of
Trade had risen 0.3 percent to $4.58-1/4 a bushel, after
touching their strongest since Feb. 23 at $4.58-1/2 a bushel.
Wheat closed up 3 percent on Wednesday. 
    * The most active soybean futures declined 0.24
percent to $10.49-1/4 a bushel, having firmed 1.5 percent on
    * The most active corn futures dropped 0.13 percent to
$3.83-1/2 a bushel, after gaining 2.2 percent in the previous
    * Egypt's main state wheat buyer, the General Authority for
Supply Commodities (GASC), bought 535,000 tonnes of wheat at an
international tender. The purchase was GASC's largest since
January 2014.
    * Weather forecasts showed potentially stressful dry and
warm conditions persisting in the southern U.S. Plains winter
wheat belt.
    * Corn and soyoil prices were supported by reports of
changes to U.S. government policy that could lift U.S. biofuel
production. Corn is the primary U.S. feedstock for ethanol,
while soyoil is used in biodiesel. Gains were capped, however,
by a lack of confirmation from the Trump administration about
any changes.
    * The dollar stood tall near a seven-week high on Thursday
on growing signs the Federal Reserve is seriously considering
raising interest rates this month, boosting the U.S. currency's
yield allure.  
    * Crude oil fell for a third consecutive session on Thursday
as a record build-up in U.S. stockpiles weighed on the market,
with producers boosting shale oil production.  
    * The Dow on Wednesday blasted through the 21,000-mark for
the first time after U.S. President Donald Trump's measured tone
in his first speech to Congress lifted optimism.  
0700  Germany               Import prices                  Jan 
1000  Euro zone             Inflation                      Feb 
1000  Euro zone             Producer prices                Jan 
1000  Euro zone             Unemployment rate              Jan 
1330  U.S.                  Weekly jobless claims 
1445  U.S.                  ISM-New York index             Feb 
 Grains prices at  0125 GMT
 Contract       Last  Change  Pct chg  Two-day chg    MA 30  RSI 
 CBOT wheat   458.25    1.25   +0.27%       +3.27%   449.63    50
 CBOT corn    381.50   -0.50   -0.13%       +2.28%   374.41    60
 CBOT soy    1049.25   -2.50   -0.24%       +1.30%  1051.96    54
 CBOT rice      9.70   $0.04   +0.36%       +1.36%    $9.82    44
 WTI crude     53.74  -$0.09   -0.17%       -0.50%   $53.27    52
 Euro/dlr     $1.054  $0.000   -0.05%       -0.32%               
 USD/AUD      0.7655  -0.002   -0.25%       -0.03%               
 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)

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