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GRAINS-Corn edges higher, holds near 3-week high on planting delays
May 23, 2017 / 1:41 AM / 6 months ago

GRAINS-Corn edges higher, holds near 3-week high on planting delays

    SYDNEY, May 23 (Reuters) - U.S. corn extended gains into a
third consecutive session on Wednesday after the U.S. Department
of Agriculture pegged the pace of planting behind market
expectations, pushing prices towards a three-week high.
    * The most active corn futures on the Chicago Board Of Trade
 rose 0.1 percent to $3.75-1/2 a bushel, having gained 0.7
percent in the previous session when prices hit a high of
$3.77-1/2 a bushel - the highest since May 2.
    * The most active soybean futures little changed at
$9.57 a bushel, having firmed 0.4 percent on Tuesday.
    * The most active wheat futures rose 0.1 percent to
$4.34-3/4 a bushel, having closed down 0.2 percent on Tuesday. 
    * U.S. corn planting was seen at 84 percent complete,
slightly behind market expectations.
    * U.S. soybean planting was pegged at 53 percent complete,
slightly ahead of market forecasts.
    * Forecasts called for unfavourably wet weather in the
central Plains hard red wheat zone in the next two weeks, but
more limited rain prospects in the southern Plains could help
    * The euro hovered near a six-month high against the dollar
on Tuesday after German Chancellor Angela Merkel said the
currency was "too weak," while the pound sagged against the yen
after a blast at a concert in Britain's city of Manchester
killed at least 19 people.  
    * Oil prices were firm on Tuesday on the expectation that an
OPEC-led production cut would be extended to next March, but
analysts said economic slowdown was clouding the mid-term
outlook for crude markets.  
    * U.S. stocks rose on Monday, boosted by technology shares
and by defence companies, which gained after the United States
and Saudi Arabia signed a multi-billion dollar arms deal.  
0600  Germany            Detailed GDP                        Q1 
0645  France             Business climate                    May
0700  France             Markit manufacturing PMI flash      May
0730  Germany            Markit manufacturing PMI flash      May
0800  Germany            Ifo business climate                May
0800  Euro zone          Markit manufacturing PMI flash      May
1345  U.S.               Markit manufacturing PMI flash      May
1400  U.S.               New home sales                      Apr
 Grains prices at  0111 GMT
 Contract       Last   Change   Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat   434.75     0.50    +0.12%       -0.11%  435.00    59
 CBOT corn    375.50     0.50    +0.13%       +0.81%  370.18    64
 CBOT soy     957.00     0.50    +0.05%       +0.42%  963.63    48
 CBOT rice     11.01   -$0.04    -0.41%       +1.66%  $10.22    75
 WTI crude     51.13    $0.00    +0.00%       +1.59%  $49.38    75
 Euro/dlr     $1.124   $0.000    +0.03%       +0.31%              
 USD/AUD      0.7468   -0.001    -0.09%       +0.12%              
 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)

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