May 18, 2018 / 2:07 AM / 10 months ago

CORRECTED-GRAINS-Soybean prices edge up, set for third straight weekly fall

 (Corrects headline, first paragraph and first bullet to show
soybean prices set for third weekly fall, not biggest weekly
loss in 9 months)
    SYDNEY, May 18 (Reuters) - U.S. soybean futures rose more
than 0.5 percent on Friday, though concerns about Chinese demand
for North American supplies as bilateral trade talks continue
pushed the oilseed towards a third consecutive weekly loss.
    * The most active soybean futures on the Chicago Board of
Trade were down more than 0.1 percent for the week, on
course for their third straight weekly fall.
    * The most active corn futures were little changed for
the week, after finishing the previous week down 2.4 percent.
    * The most active wheat futures were steady for the
week, after closing down 5 percent last week.
    * Wheat prices have been drawing support on concerns over
dry weather in the United States, Australia and Russia.
    * Traders were focused on the outcome of trade talks between
the United States and China. 
    * The U.S. Department of Agriculture on Thursday said that
soybean export sales totalled 506,600 tonnes in the latest week,
near the low-end of forecasts that ranged from 400,000 tonnes to
1 million tonnes.
    * The dollar climbed to a four-month peak against the yen on
Thursday, bolstered by a rise in U.S. Treasury yields that
suggests a more upbeat outlook for the world's largest economy.
    * Oil prices held firm on Friday on strong demand, ongoing
supply cuts led by producer cartel OPEC and looming U.S.
sanctions against major crude exporter Iran.  
    * Wall Street ended a choppy trading session lower on
Thursday, as investors grappled with escalating trade tensions
and rising oil prices.  
 Grains prices at  0131 GMT
 Contract       Last  Change  Pct chg  Two-day chg    MA 30  RSI 
 CBOT wheat   499.75    2.25   +0.45%       +1.11%   500.06    46
 CBOT corn    395.75    0.50   +0.13%       -0.88%   397.55    50
 CBOT soy    1002.50    7.50   +0.75%       +0.28%  1037.08    42
 CBOT rice     12.50   $0.00   +0.00%       +0.12%   $12.98    46
 WTI crude     71.58   $0.09   +0.13%       +0.13%   $68.68    68
 Euro/dlr     $1.180  $0.001   +0.09%       -0.03%               
 USD/AUD      0.7510   0.000   +0.01%       -0.05%               
 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)
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