July 8, 2019 / 1:28 AM / in 3 months

GRAINS-Corn extends gains into fourth session, market eyes dry weather

    SYDNEY, July 8 (Reuters) - U.S. corn futures rose for a fourth consecutive session on Monday as forecasts of a hot, dry weather threatened new
crops, supporting prices.
         
    FUNDAMENTALS  
    * The most active corn futures on the Chicago Board Of Trade  Cv1> were up 0.9% at $4.46-1/4 a bushel, as of 0101 GMT, having gained 0.2% in the
previous session.
    * The most active soybean futures rose 0.6% to $9.00-1/4 a bushel, having closed down 1.6% on Friday when prices hit a low of $8.93 a
bushel - the lowest since June 27.
    * The most active wheat futures climbed 0.2% to $5.16 a bushel, having closed up 0.2% on Friday. 
    * Corn draws support as forecasts call for hot weather across the U.S. Midwest, stoking further concerns about crops amid recent unfavourable
weather.
    * Soybeans under pressure from China's continued struggle with African swine fever.
             
    DATA/EVENTS
0600   Germany Industrial Output      MM                 May
N/A    Bank of Japan Governor Haruhiko Kuroda delivers speech at regional branch managers' quarterly meeting
        
 Grains prices at  0101 GMT
 Contract        Last  Change   Pct chg  Two-day chg   MA 30  RSI
 CBOT wheat    516.00    1.00    +0.19%       +0.39%  521.97   46
 CBOT corn     446.25    4.00    +0.90%       +1.13%  439.48   58
 CBOT soy      900.25    5.75    +0.64%       -0.94%  906.28   42
 CBOT rice      11.50   $0.00    +0.00%       +2.09%  $11.79   48
 WTI crude      57.61   $0.10    +0.17%       +0.47%  $55.62   52
 Currencies                                                      
 Euro/dlr      $1.122  $0.000    -0.03%       -0.56%             
 USD/AUD       0.6978   0.000    -0.01%       -0.58%             
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham, Editing by Sherry Jacob-Phillips)
  
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