Reuters logo
GRAINS-Wheat firms as cold weather threatens U.S. winter crop
December 5, 2016 / 2:42 AM / a year ago

GRAINS-Wheat firms as cold weather threatens U.S. winter crop

SYDNEY, Dec 5 (Reuters) - U.S. wheat rose for a second
session on Monday as unfavourable weather threatens U.S. winter
production.
    
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade rose 0.7 percent to $4.07-1/4 a bushel after closing
up 2.2 percent in the previous session.
    * The most active soybean futures rose 0.6 percent to
$10.33-3/4 a bushel, having closed down 0.2 percent on Friday.
    * The most active corn futures rose 0.4 percent to
$3.48-3/4 a bushel, having gained 1.4 percent in the previous
session.
    * Wheat supported as cold weather threatens production of
the U.S. winter crop, exposed because of little snow cover -
analysts said.
    * Wheat gains checked amid expectations of record wheat
production in Australia, the world's fourth-largest exporter.
 
    * Expectations of a large Canadian harvest, despite
weather-disrupted field work, also reinforced the prospect of
hefty global inventories. 
         
    MARKET NEWS  
    * The euro tumbled in early Asian trade on Monday after
Italian Prime Minister Matteo Renzi said he would resign after
conceding defeat in a referendum over his plan to reform the
constitution.  
    * Oil prices fell by one percent on Monday as a higher U.S.
rig count unsettled markets amid nagging concern that output
cuts, planned as part of concerted action between producer club
OPEC and Russia, might not be as big as initially anticipated.
  
    * U.S. equity index futures fell on Sunday after a stinging
defeat for Italian Prime Minister Matteo Renzi, who said he
would resign following a referendum over his proposals for
constitutional reform.  
    
     DATA AHEAD (GMT) 
0145  China             Caixin services PMI              Nov
0855  Germany           Markit services PMI              Nov 
0900  Euro zone         Markit services PMI final        Nov 
0930  Euro zone         Sentix index                     Dec
1000  Euro zone         Retail sales                     Oct 
1500  U.S.              ISM Non-manufacturing PMI        Nov
1500  U.S.              Employment trends                Nov
    
    
 Grains prices at  0215 GMT
 Contract          Last   Change  Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat      407.25     3.00   +0.74%       +2.97%  424.73    45
 CBOT corn       348.75     1.50   +0.43%       +1.82%  356.40    47
 CBOT soy       1033.75     6.25   +0.61%       +0.39%  1010.2    60
                                                             4  
 CBOT rice         9.75    $0.12   +1.25%       +0.26%   $9.78    59
 WTI crude        51.20   -$0.48   -0.93%       +0.27%  $47.00    67
 Currencies                                                         
 Euro/dlr        $1.056  -$0.011   -1.00%       -0.91%              
 USD/AUD         0.7427   -0.003   -0.44%       +0.18%              
 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)

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