Reuters logo
GRAINS-Corn prices fall from 1-yr high, hot weather fears curb losses
July 12, 2017 / 1:40 AM / 4 months ago

GRAINS-Corn prices fall from 1-yr high, hot weather fears curb losses

    SYDNEY, July 12 (Reuters) - U.S. corn prices on Wednesday
retreated from a one-year high touched in the previous session,
though losses were checked by concerns about unfavourable
weather across a key U.S. producing region.
    * The most active corn futures on the Chicago Board of Trade
 fell 0.6 percent to $4.11-3/4 a bushel. They closed down
0.1 percent in the previous session, after touching their
highest since June 2016 at $4.17-1/4 a bushel.
    * The most active soybean futures declined 0.2 percent
to $10.41-1/2 a bushel. They firmed 0.4 percent on Tuesday, when
they marked their strongest since March 6 at $10.47 a bushel.
    * The most active wheat futures dropped 0.5 percent to
$5.50-3/4 a bushel, having closed down 0.2 percent on Tuesday. 
    * The U.S. Department of Agriculture late on Monday rated 62
percent of the U.S. soybean crop in good-to-excellent condition,
down from 64 percent the previous week and below an average of
analyst expectations.
    * Corn and soybeans were pressured as unexpected rains
crossed parts of Iowa and Illinois, the top U.S. corn states,
early Tuesday. The showers brought welcome moisture at a time
when corn has begun pollinating, the key phase for determining
    * The rains, however, only bought limited relief and
forecasts for continued hot, dry weather continued to support
    * The dollar fell to a more than one-week low against a
basket of major currencies on Tuesday, after U.S. President
Donald Trump's eldest son released an email chain citing Russian
support for his father before last year's U.S. election. 
    * Oil prices climbed more than 2.5 percent on Tuesday along
with rising heating oil futures on reports showing cuts in U.S.
oil production and declines in U.S. crude and European product
    * U.S. stocks ended little changed on Tuesday in a session
marked by knee-jerk reactions to events in Washington that drove
investors to first worry then hope about prospects for the Trump
administration's economic agenda.  
      China         Foreign direct investment        June 
      China         M2 money supply                 June  
      China         New yuan loans                 June  
0830   U.K.          Jobless rate (ILO)               May 
0900   Euro zone     Industry output                  May 
1100   U.S.          Home mortgage applications       weekly 
 Grains prices at  0056 GMT
 Contract        Last   Change   Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat    550.75    -2.25    -0.41%       +0.14%  487.00    74
 CBOT corn     411.75    -2.50    -0.60%       -0.72%  397.96    71
 CBOT soy     1041.50    -1.75    -0.17%       +0.22%  952.89    91
 CBOT rice      12.07    $0.00    +0.00%       +0.37%  $11.67    78
 WTI crude      45.69    $0.65    +1.44%       +2.91%  $45.32    57
 Euro/dlr      $1.148   $0.001    +0.10%       +0.68%              
 USD/AUD       0.7647    0.001    +0.17%       +0.55%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 (Reporting by Colin Packham; Editing by Joseph Radford)

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