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GRAINS-Wheat edges higher, but set for annual loss of more than 13 pct
December 30, 2016 / 2:04 AM / a year ago

GRAINS-Wheat edges higher, but set for annual loss of more than 13 pct

SYDNEY, Dec 30 (Reuters) - U.S. wheat edged higher on
Friday, drawing support from a weaker dollar, but the grain was
poised to record annual losses of more than 13 percent as record
global production weighed on prices.
    * The most active wheat futures on the Chicago Board Of
Trade were down more than 13 percent during 2016, the
fourth straight annual loss.
    * Wheat prices hit a near-decade low this year of $3.86-3/4
a bushel in August.
    * The most active soybean futures are up more than 17
percent for the year, the biggest annual gain in six years.
    * The most active corn futures are down 2.5 percent
for the year, the fourth straight yearly loss.
    * Wheat prices struggle in 2016 amid record global
    * Soybeans draw support despite ample global supplies amid
strong demand from China.
    * Morocco's state grains agency, ONICL, announced tenders to
buy 363,636 tonnes of European Union soft wheat and 363,636
tonnes of U.S. soft wheat under preferential-tariff import
    * ONICL said in a statement it was also seeking to buy
327,273 tonnes of U.S. durum under the same agreement.
    * The euro jumped to its highest in three weeks in
holiday-thinned Asian trade on Friday, but was on track for a
losing year on expectations that U.S. President-elect Donald
Trump's policies will boost inflation and prompt the U.S.
Federal Reserve to hike interest rates at a faster pace. 
    * Oil prices rose in early Asian trade on Friday shrugging
off a second consecutive week of U.S. crude oil inventory
builds, with a U.S. Energy Information Administration (EIA)
report late on Thursday indicating an unexpected rise in crude
    * Wall Street ended slightly lower on Thursday, held down by
bank shares in quiet holiday trading as traders looked to
position for the new year.  
1445   U.S.  Chicago PMI   Dec.        
1530   U.S.  ECRI Weekly  Index        
1530   U.S.  ECRI Weekly Annualized   
 Grains prices at  0151 GMT
 Contract        Last  Change   Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat    405.75    1.00    +0.25%       +1.06%  410.67    54
 CBOT corn     349.75    0.00    +0.00%       +0.43%  354.34    49
 CBOT soy     1012.25   -0.50    -0.05%       -0.42%  1033.0    44
 CBOT rice       9.51   $0.00    +0.05%       -0.26%   $9.84    29
 WTI crude      53.93   $0.16    +0.30%       -0.24%  $50.60    71
 Euro/dlr      $1.055  $0.006    +0.56%       +1.36%              
 USD/AUD       0.7241   0.003    +0.37%       +0.91%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 (Reporting by Colin Packham; Editing by Kenneth Maxwell)

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