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GRAINS-Corn edges lower to linger near 8-month low
August 30, 2017 / 1:31 AM / 4 months ago

GRAINS-Corn edges lower to linger near 8-month low

    SYDNEY, Aug 30 (Reuters) - U.S. corn edged lower on
Wednesday as expectations that the market will soon be flooded
with ample U.S. supplies pushed prices towards an eight-month
    * The most active corn futures on the Chicago Board Of Trade
 were down 0.1 percent to $3.48-1/2 a bushel by 0100 GMT,
having closed down 0.9 percent in the previous session when
prices hit a low of $3.47 a bushel - the lowest since Dec. 27,
    * The most active soybean futures were up 0.1 percent
to $9.38 a bushel, having closed down 0.4 percent on Tuesday.
    * The most active wheat futures were up 0.4 percent to
$4.31-1/4 a bushel, having closed up 0.4 percent on Tuesday. 
    * Exporters sold 226,000 tonnes of U.S. corn to Mexico and
198,000 tonnes of U.S. soybeans to China, according to the U.S.
Department of Agriculture.
    * Egypt bought 295,000 tonnes of wheat from Russia and
Ukraine in a tender in which no U.S. supplies were offered.

    * USDA on Monday said 61 percent of the soybean crop was in
good to excellent condition, up from 60 percent last week.
Analysts surveyed by Reuters expected soy ratings to stay
    * USDA said 62 percent of the U.S. corn crop was in good to
excellent condition, unchanged from last week.
    * Tropical Storm Harvey halted port loadings at wheat
terminals in Texas, and the storm could delay corn and soy
harvest in the Mississippi River Delta region later this week. 
    * The U.S. dollar turned positive against a basket of major
rivals on Tuesday after touching its lowest level in more than
2-1/2 years as traders brushed aside concerns surrounding a
North Korean missile launch over Japan.  
    * U.S. gasoline futures jumped 4 percent while crude prices
were mixed on Tuesday after a hurricane shut down more than 19
percent of the country's refining capacity, curbing fuel
production and further bloating crude inventories.  
    * Major U.S. stock indexes ended higher on Tuesday after
recovering from steep early losses triggered by fears that
hostilities in the Korean Peninsula could escalate.  
0900  Euro zone             Business climate               Aug 
1200  Germany               Consumer prices                Aug 
1215  U.S.                  ADP national ecmployment       Aug 
1230  U.S.                  GDP 2nd estimate               Q2 
 Grains prices at  0100 GMT
 Contract       Last   Change  Pct chg   Two-day chg   MA 30  RSI 
 CBOT wheat   431.25     1.50   +0.35%        +0.76%  471.08    31
 CBOT corn    348.50    -0.25   -0.07%        -0.71%  373.75    14
 CBOT soy     938.00     0.75   +0.08%        -0.35%  964.19    38
 CBOT rice     12.65    $0.04   +0.36%        +0.00%  $12.56    53
 WTI crude     46.34   -$0.10   -0.22%        -0.49%  $48.10    39
 Euro/dlr     $1.198   $0.000   +0.03%        -0.02%              
 USD/AUD      0.7959    0.001   +0.15%        -0.04%              
 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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