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GRAINS-Soybeans ease, set for longest weekly losing streak in 30 months
April 7, 2017 / 1:37 AM / 8 months ago

GRAINS-Soybeans ease, set for longest weekly losing streak in 30 months

    SYDNEY, April 7 (Reuters) - U.S. soybeans edged lower on
Friday despite fears of delayed harvesting in Argentina, putting
the oilseed on track to finish in negative territory for a fifth
straight week, its longest losing streak in 30 months.
    * The most active soybean futures on the Chicago Board Of
Trade is down more than 0.5 percent for the week, the
fifth straight weekly loss.
    * It is the longest weekly losing streak since September
    * The most active corn contract is down nearly 1
percent for the week, losing nearly half the gains from the
previous week.
    * The most active wheat contract is down nearly 1
percent for the week after gaining 0.4 percent in the previous
    * The U.S. Department of Agriculture reported export sales
of old-crop wheat in the week to March 30 at 568,400 tonnes,
above a range of trade expectations.
    * Global cereal production in 2017 is forecast to be close
to a record level reached in 2016, the United Nations' Food and
Agriculture Organization said.
    * Soybeans supported by rains in Argentina, fuelling fears
of potential harvest delays.
    * The dollar rose on Thursday, with gains limited ahead of a
two-day summit between U.S. President Donald Trump and his
Chinese counterpart Xi Jinping that could have geopolitical
ramifications, and Friday's U.S. jobs report.  
    * Oil prices rose by 1 percent on Thursday, posting a fourth
straight day of gains, but analysts remained cautious about
record-high U.S. crude inventories.  
    * Wall Street's major indexes closed slightly higher on
Thursday but finished well off session highs as investors were
nervous about upcoming talks between China's President Xi
Jinping and U.S. President Donald Trump.  
0600  Germany             Industrial output             Feb 
0600  Germany             Trade data                    Feb 
0645  France              Industrial output             Feb 
0645  France              Trade data                    Feb 
0800  China               Forex reserves                Mar 
0830  Britain             Industrial output             Feb 
1230  U.S.                Nonfarm payrolls              Mar 
1230  U.S.                Unemployment rate             Mar 
1400  U.S.                Wholesale sales               Feb 
 Grains prices at  0057 GMT
 Contract      Last   Change   Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat  423.25     0.00    +0.00%       -1.51%  434.52    45
 CBOT corn   361.25     0.50    +0.14%       -0.96%  365.59    48
 CBOT soy    940.75    -0.75    -0.08%       -0.37%  992.74    19
 CBOT rice    10.15   -$0.03    -0.29%       -0.25%   $9.80    76
 WTI crude    51.71    $0.01    +0.02%       +1.09%  $50.21    71
 Euro/dlr    $1.064   $0.000    +0.02%       -0.17%              
 USD/AUD     0.7537   -0.001    -0.11%       -0.38%              
 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)

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