August 22, 2017 / 1:52 AM / 7 months ago

GRAINS-Corn edges lower as U.S. govt says crop condition improves

    SYDNEY, Aug 22 (Reuters) - U.S. corn prices inched down on
Tuesday, lingering near a one-month low as the U.S. government
said the condition of the latest crop had improved, easing fears
of production losses from recent dry weather.
    * The most active corn futures on the Chicago Board of Trade
 were down 0.1 percent at $3.62-1/2 a bushel by 0115 GMT.
They closed down 0.8 percent in the previous session, when
prices hit their lowest since June 27 at $3.60-3/4 a bushel.
    * The most active soybean futures were down 0.1
percent at $9.35-1/2 a bushel, having closed down 0.1 percent on
    * The most active wheat futures were up 0.3 percent at
$4.38-1/2 a bushel, after ending down 1.2 percent on Monday. 
    * The U.S. Department of Agriculture said 60 percent of the
soybean crop was in good-to-excellent condition, matching
analyst expectations.
    * The USDA's spring wheat ratings improved, compared to
analyst predictions of flat ratings, while corn crop conditions
were unchanged. 
    * Scouts on an annual U.S. crop tour found variable yields
for corn and soybean crops in parts of Ohio and South Dakota on
the first of a four-day swing through the Midwest.

    * The dollar held steady against a basket of currencies on
Tuesday, with traders focusing on the annual central banking
conference in Jackson Hole this week for insights on the outlook
for monetary policy.  
    *  Oil prices inched up early on Tuesday, lifted by
indications that supply is gradually tightening, especially in
the United States.  
    * The benchmark U.S. S&P 500 stock index ended up slightly
on Monday after two days of declines, though a drop in oil
prices weighed on energy shares and tensions between the United
States and North Korea kept investors on edge.  
    DATA (GMT)
0830    U.K.     Public finances                     Jul  
0900    Germany  Economic sentiment index (ZEW)      Aug  
1300    U.S.     Home prices (FHFA)                  Jun 
1400    U.S.     Richmond Fed manufacturing index    Aug 
 Grains prices at  0115 GMT
 Contract        Last    Change  Pct chg   Two-day chg   MA 30  RSI 
 CBOT wheat    438.50      1.50   +0.34%        -0.90%  492.82    19
 CBOT corn     362.50     -0.50   -0.14%        -0.89%  381.58    32
 CBOT soy      935.50     -0.75   -0.08%        -0.24%  977.10    40
 CBOT rice      12.48     $0.00   +0.00%        +0.52%  $12.44    50
 WTI crude      47.53     $0.16   +0.34%        -2.02%  $47.91    45
 Euro/dlr      $1.182    $0.000   +0.02%        +0.48%              
 USD/AUD       0.7946     0.001   +0.14%        +0.24%              
 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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