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GRAINS-Soybean prices firm, rebound from 1-month low
December 21, 2016 / 1:49 AM / a year ago

GRAINS-Soybean prices firm, rebound from 1-month low

SYDNEY, Dec 21 (Reuters) - U.S. soybean prices rose on
Wednesday, rebounding from a one-month low touched in the
previous session, although improving production prospects in
South America pressured the market.
    * The most active soybean futures on the Chicago Board of
Trade climbed 0.35 percent to $10.08-3/4 a bushel. They
closed down 1.6 percent on Tuesday, after hitting their lowest
since Nov. 21 at $10.04 a bushel.
    * The most active corn futures advanced 0.14 percent
to $3.50-3/4, having closed down 0.85 percent in the previous
session, when prices touched their weakest since Dec. 5 at
    * The most active wheat futures fell 0.12 percent to
$4.02-3/4 a bushel. They ended Tuesday down 0.43 percent after
marking their lowest since Dec.7 at $4.00-1/4.
    * Rain expected in Argentina this week has eased concerns
about stress to corn and soybean crops in some areas, while
forecasters continue to see record harvests in fellow exporter
    * Even so, dryness poses a threat to soy production in
southern parts of Argentina's bread-basket province of Buenos
Aires, climate experts said on Tuesday, and could interfere with
    * Wheat prices remain anchored by record global inventories
projected in 2016-17, with U.S. wheat facing additional pressure
from a dollar rally that makes the origin less competitive for
    * The dollar held the upper hand against its major rivals on
Wednesday, sitting near a 14-year top against the euro, thanks
to bets of higher U.S. growth and a faster pace of interest rate
increases under incoming president Donald Trump.  
    * Oil prices nudged higher on Wednesday on expectations of a
U.S. crude inventory draw, although trading activity was muted
as markets start to wind down ahead of the Christmas weekend.
    * The Dow and Nasdaq Composite rose to record highs on
Tuesday in a rally fueled by optimism about U.S. President-elect
Donald Trump's policies.  
1500  Euro zone          Consumer confidence flash          Dec 
1500  U.S.               Existing home sales                Nov
 Grains prices at  0121 GMT
 Contract        Last   Change   Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat    402.75    -0.50    -0.12%       -1.59%  416.12    57
 CBOT corn     350.75     0.50    +0.14%       -1.54%  355.30    51
 CBOT soy     1008.75     3.50    +0.35%       -2.70%  1021.0    38
 CBOT rice       9.46    $0.00    +0.00%       -0.21%   $9.67    34
 WTI crude      53.59    $0.29    +0.54%       +3.26%  $48.61    70
 Euro/dlr      $1.039  -$0.001    -0.12%       -0.55%              
 USD/AUD       0.7256    0.001    +0.15%       -0.66%              
 Most active contracts
   corn and soy US cents/bushel. Rice: USD per hundredweight
   14, exponential

 (Reporting by Colin Packham; Editing by Joseph Radford)

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