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GRAINS-Wheat prices firm as US pegs crop condition below market forecasts
June 6, 2017 / 2:02 AM / 6 months ago

GRAINS-Wheat prices firm as US pegs crop condition below market forecasts

    SYDNEY, June 6 (Reuters) - U.S. wheat futures edged up on
Tuesday as the U.S. Department of Agriculture pegged the
condition of the domestic crop below market expectations,
stoking fears of production losses following recent adverse
    * The most active wheat futures on the Chicago Board of
Trade rose 0.35 percent to $4.31 a bushel, having closed
little changed on Monday. 
    * The most active soybean futures were steady at
$9.22-1/2 a bushel, having firmed nearly 0.1 percent on Monday.
    * The most active corn futures fell 0.27 percent to
$3.72 a bushel, after gaining nearly 0.1 percent in the previous
    * The USDA rated 55 percent of the U.S. spring wheat crop in
good-to-excellent condition, down from 62 percent a week
    * Analysts surveyed by Reuters had expected a drop of 1
percentage point, to 61 percent good-to-excellent. 
    * Minneapolis Grain Exchange spring wheat futures
also climbed on weather worries at a time when traders are
concerned about supplies of high-protein wheat.
    * The wheat harvest was 10 percent complete by Sunday, the
USDA said.
    * The U.S. soybean crop was 83 percent planted as of Sunday,
ahead of the five-year average of 79 percent, according to the
    * The government rated 68 percent of the U.S. corn crop as
good-to-excellent, up from 65 percent a week earlier and above
an average of analyst expectations of 67 percent.  
    * The dollar steadied against a basket of currencies on
Monday, recovering from near a seven-month low hit on Friday, as
investors turned their focus to this week's impending European
Central Bank meeting and a parliamentary election in Britain.
    * Oil prices fell nearly 1 percent on Monday on concerns
that the cutting of ties with Qatar by top crude exporter Saudi
Arabia and other Arab states could hamper a global deal to
reduce oil production.  
    * Stocks dipped on Wall Street on Monday as a drop in Apple
partly offset gains in energy and financial stocks, some of the
market's worst-performing sectors so far this year.  
0830  Euro zone              Sentix index                  Jun 
0900  Euro zone              Retail sales                  Apr
 Grains prices at  0117 GMT
 Contract      Last   Change   Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat  431.00     1.50    +0.35%       +0.35%  433.36    56
 CBOT corn   372.00    -1.00    -0.27%       -0.20%  370.48    54
 CBOT soy    922.00     0.00    +0.00%       +0.08%  952.50    36
 CBOT rice    11.05    $0.00    +0.00%       -0.67%  $10.44    62
 WTI crude    47.14   -$0.26    -0.55%       -1.09%  $48.53    29
 Euro/dlr    $1.127   $0.002    +0.15%       -0.10%              
 USD/AUD     0.7481    0.000    -0.03%       +0.54%              
 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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