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GRAINS-Soybeans extend rally, hit 5-day high despite firm dollar
November 7, 2016 / 2:07 AM / a year ago

GRAINS-Soybeans extend rally, hit 5-day high despite firm dollar

SYDNEY, Nov 7 (Reuters) - U.S. soybeans rose for a third
consecutive session to hit their highest in five days on Monday
due to fund-buying, though a stronger dollar curbed gains.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board of
Trade climbed 0.43 percent to $9.95 a bushel, near the
session-high of $9.95-3/4 a bushel - the strongest since Nov. 2.
Soybeans firmed 0.13 percent on Friday.
    * The most active corn futures eased 0.1 percent to
$3.48-1/2 a bushel, after closing up 0.2 percent in the previous
session.
    * The most active wheat futures fell 0.2 percent
to$4.13-1/2 a bushel, having closed up 0.55 percent on Friday. 
    * Analysts polled by Reuters expected the U.S. Department of
Agriculture to raise its forecast for U.S. soybean production to
a new record high and slightly reduce its outlook for U.S. corn
output. Analysts also predicted the USDA would narrowly increase
U.S. wheat ending stocks.   
         
    MARKET NEWS  
    * The dollar jumped early on Monday after the FBI said a
review of newly discovered emails did not change the agency's
conclusion that no charges were warranted in the case of
Democrat Hillary Clinton's use of a private email server 
    * Oil prices rose in early trading on Monday, with traders
citing opportunistic buying following sharp declines in the
previous week on the back of ongoing weak fundamentals.  
    * U.S. equity index futures rallied at the open on Sunday as
bullish sentiment returned to Wall Street following the largest
streak of losses on the S&P 500 since 1980.  
    
    DATA AHEAD (GMT)
0700  Germany          Industrial orders              Sep
0930  Euro zone        Sentix index                   Nov
1000  Euro zone        Retail sales                   Sep
1500  U.S.             Employment trends              Oct 
    
    
 Grains
 prices at
  0135 GMT
 Cont  Last  Chan   Pct  Two-    MA  RSI 
 ract          ge   chg   day    30  
                          chg        
 CBOT  413.  -0.7  -0.1  #DIV  413.    51
 whea    50     5    8%  /0!     50  
 t                                   
 CBOT  348.  -0.2  -0.0  #DIV  348.    47
 corn    50     5    7%  /0!     50  
 CBOT  995.  4.25  +0.4  #DIV  995.    51
 soy     00          3%  /0!     00  
 CBOT  9.83  -$0.  -0.5  #DIV  $9.8    39
 rice          05    6%  /0!      3  
 WTI   44.4  $0.3  +0.8  #DIV  $44.    23
 crud     4     7    4%  /0!     44  
 e                                   
 Curr                                    
 enci                                
 es                                  
 Euro  $1.1  $1.1  #DIV  #DIV            
 /dlr    09    09  /0!   /0!         
 USD/  0.76  0.76  #DIV  #DIV            
 AUD     71     7  /0!   /0!         
 Most
 active
 contracts
 Wheat,
 corn and
 soy US
 cents/bus
 hel.
 Rice: USD
 per
 hundredwe
 ight
 RSI 14,
 exponenti
 al
 
 (Reporting by Colin Packham; Editing by Joseph Radford)

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