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GRAINS-Wheat rises as cold weather in U.S. raises loss concerns
December 19, 2016 / 3:22 AM / a year ago

GRAINS-Wheat rises as cold weather in U.S. raises loss concerns

SYDNEY, Dec 19 (Reuters) - U.S. wheat rose nearly 1 percent
on Monday as cold weather hit key U.S. producing regions,
raising fears of potential crop losses.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade rose 0.9 percent to $4.12-3/4 a bushel, having
closed little changed on Friday.
    * The most active soybean futures unchanged at
$10.36-1/2 a bushel, having firmed 0.8 percent on Friday .
    * The most active corn futures rose 0.1 percent to
$3.56-1/2 a bushel, having closed little changed on Friday.
    * Wheat draws support as frigid temperatures hit key U.S.
producing regions, threatening crops.
    * The U.S. Agriculture Department on Friday morning said
private exporters reported a deal to ship 205,000 tonnes of
soybeans to unknown destinations in the 2016/17 marketing year.
It was the third flash sale of the week. 
    * Analysts were expecting that overseas buyers will turn
their attention to South American suppliers in the coming months
but any crop deficits from those key production countries will
boost demand for U.S. soybeans.
    * Brazilian independent analysts Safras & Mercado raised its
forecast for Brazil's 2016/17 soybean crop to 106.1 million
tonnes, 9.2 percent above the 2015/16 season and 2.5 percent
more than its previous projection in October.
         
    MARKET NEWS  
    * The dollar edged lower in early Asian trading on Monday as
some investors took profits after its rise last week to a
14-year peak against a currency basket, though it remained
underpinned by expectations of more U.S. interest hikes in the
coming year.  
    * Oil prices inched up on Monday in anticipation of tighter
crude supply going into 2017 following the decision by OPEC and
other producers to cut output to prop up prices.  

    DATA AHEAD (GMT) 
0130  China              House prices                       Nov 
0900  Germany            Ifo business climate               Dec 
1000  Euro zone          Labour costs                       Q3 
1445  U.S.               Markit services PMI flash          Dec 
    
    
 Grains prices at  0256 GMT
 Contract         Last    Change  Pct chg  Two-day chg    MA 30  RSI 
 CBOT wheat     412.75      3.50   +0.86%       +0.86%   417.36    69
 CBOT corn      356.50      0.25   +0.07%       +0.00%   355.62    63
 CBOT soy      1036.50     -0.25   -0.02%       +0.73%  1021.19    55
 CBOT rice        9.52     $0.04   +0.42%       +0.58%    $9.68    39
 WTI crude       52.33     $0.43   +0.83%       +2.81%   $48.33    64
 Currencies                                                          
 Euro/dlr       $1.046    $0.001   +0.13%       +0.47%               
 USD/AUD        0.7298    -0.001   -0.08%       -0.77%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Christian Schmollinger)

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