June 30, 2017 / 1:17 AM / 7 months ago

GRAINS-Wheat hits one-year high, set for biggest monthly rally in two years

    SYDNEY, June 30 (Reuters) - U.S. wheat rose for a fourth
consecutive session on Friday to hit a one-year high as fears of
production losses in a key producing of the United States pushed
the grain towards its biggest monthly gain in two years.
    * The most active wheat futures on the Chicago Board Of
Trade edged up after a near-five percent gain in the
previous session to hit $4.99 a bushel, its highest since June
last year.
    * Wheat has so far risen 16 percent during June, the biggest
monthly rise in two years. For the quarter wheat is up 17
percent, also its biggest rise in two years.
    * The most active soybean futures were down more than
3 percent for the quarter after posting losses of nearly 6
percent in the previous quarter.
    * The most active corn futures up nearly 2 percent for
the quarter, the third straight quarterly gain.
    * The latest weekly U.S. Drought Monitor, released Thursday
by a consortium of climatologists, showed "extreme drought"
covering 25 percent of North Dakota, by far the top U.S. spring
wheat producer, up from about 8 percent a week ago
    * The U.S. Department of Agriculture was scheduled to
release updated U.S. plantings figures on Friday. Analysts
expect the USDA to lower its U.S. spring wheat plantings
estimate to 11.2 million acres, from its March forecast of 11.3
    * The U.S. dollar held around a nearly 14-month low against
the euro on Thursday on growing expectations of more hawkish
monetary policies in Europe and Canada and on skepticism of
another Federal Reserve interest rate increase this year.
    * Oil futures ended slightly higher on Thursday, extending
crude's rally to a sixth straight session after a decline in
weekly U.S. crude production temporarily eased concerns about
deepening oversupply.  
    * A rally in U.S. stocks fizzled, leaving major indexes with
modest gains on Friday, as Wall Street was torn between hope
that U.S. economic data signals better times ahead and fear
Europe's debt crisis will engulf world economies.  
0100  China            Official manufacturing PMI           Jun 
0100  China            Official non-manufacturing PMI       Jun 
0600  Germany          Retail sales                         May
0645  France           Consumer spending                    May
0645  France           Consumer prices                      Jun 
0800  Germany          Unemployment rate                    Jun 
0830  Britain          GDP                                  Q1 
0900  Euro zone        Inflation flash                      Jun 
1230  U.S.             Personal income                      May 
1345  U.S.             Chicago PMI                          Jun
 Grains prices at  0034 GMT
 Contract      Last  Change  Pct chg   Two-day chg    MA 30  RSI 
 CBOT wheat  498.75    2.75   +0.55%        +5.44%   462.62    75
 CBOT corn   371.00    1.50   +0.41%        +3.99%   372.05    39
 CBOT soy    925.25    0.50   +0.05%        +0.22%   936.43    42
 CBOT rice    11.91   $0.01   +0.04%        +1.45%   $11.52    66
 WTI crude    45.02   $0.09   +0.20%        +0.63%   $46.46    55
 Euro/dlr    $1.144  $0.000   -0.04%        +0.52%               
 USD/AUD     0.7693   0.001   +0.14%        +0.69%               
 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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