Reuters logo
GRAINS-Wheat prices edge up as adverse weather could hit U.S. crops
June 5, 2017 / 1:21 AM / in 5 months

GRAINS-Wheat prices edge up as adverse weather could hit U.S. crops

    SYDNEY, June 5 (Reuters) - U.S. wheat prices edged higher on
Monday, supported by worries over adverse weather across key
U.S. growing regions.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board of
Trade climbed 0.2 percent to $4.30-1/4 a bushel, having
closed up 0.1 percent on Friday. 
    * The most active soybean futures rose 0.2 percent to
$9.23-1/4
    * The most active corn futures advanced 0.3 percent to
$3.73-3/4 a bushel, having firmed 1 percent on Friday
    * Wheat was supported by forecasts of warm and dry weather
in the northern U.S. Plains, potentially stressing newly planted
spring wheat, and as excessive rains have swamped fields in the
southern Plains and the Midwest.
    * The U.S. Department of Agriculture this week rated 62
percent of the U.S. spring wheat crop as good to excellent, down
significantly from 79 percent a year earlier.
    * Weekly USDA export sales data for soybeans came in above
trade expectations, and the government through its daily
reporting system said private exporters sold 200,000 tonnes of
U.S. soybeans to Spain, which has struggled with drought.

         
    MARKET NEWS  
    * The dollar nursed losses on Monday, coming close to a
seven-month low against a currency basket plumbed after
disappointing U.S. employment data prompted investors to pare
back their expectations of future U.S. Federal Reserve rate
hikes.  
    * Oil markets were subdued on Monday, with Brent struggling
to maintain $50 per barrel as efforts led by OPEC to tighten the
market were undermined by persistently rising U.S. production.
  

 Grains prices at  0059 GMT
 Contract      Last    Change  Pct chg  Two-day chg     MA 30  RSI 
 CBOT wheat  430.25      0.75   +0.17%       +0.29%    432.99    54
 CBOT corn   373.75      1.00   +0.27%       +0.88%    370.29    55
 CBOT soy    923.25      2.00   +0.22%       +1.21%    954.20    38
 CBOT rice    11.15     $0.02   +0.22%       +0.13%    $10.37    68
 WTI crude    47.70     $0.04   +0.08%       -1.36%    $48.61    34
 Currencies                                                        
 Euro/dlr    $1.127   -$0.001   -0.08%       +0.54%                
 USD/AUD     0.7425    -0.002   -0.22%       +0.72%                
 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)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below