April 29, 2019 / 1:49 AM / 4 months ago

GRAINS-Corn jumps nearly 1 percent to hit one-week high

    SYDNEY, April 29 (Reuters) - U.S. corn futures added nearly
1 percent on Monday to rise for a fourth session in a row as
adverse weather threatened to further slow planting, pushing
prices to a one-week high.
         
    FUNDAMENTALS  
    * The most active corn futures on the Chicago Board Of Trade
 were up 0.8 percent at $3.64-1/4 by 0127 GMT, near the
session high of $3.64-3/4 a bushel - the highest since April 22.
Corn gained 1.1 percent in the previous session.
    * The most active soybean futures were up 0.4 percent
at $8.70-3/4 a bushel, having fallen 0.7 percent on Friday.
    * The most active wheat futures were up 0.5 percent at
$4.44-3/4 a bushel, near the session high of $4.46-3/4 a bushel
- the highest since April 23. Wheat closed up 0.2 percent on
Friday. 
    * Corn firms as rain and even snow across the U.S. Midwest
threatens further planting delays. 
    * Farmers faced with significant delays could be encouraged
to switch some acres intended for corn to soybeans, which can be
planted later.
    * Soybeans under pressure amid concerns about demand from
top buyer China, which is locked in a trade row with the United
States, and the spread of African swine fever in China's hog
herd. Soy is a key feedstuff for hogs.
    * Brazil's 2018/19 soybean crop is poised to be the second
largest on record, a Reuters poll showed. According to the
average of 12 forecasts, farmers will collect 115.46 million
tonnes of the oilseed this season, below only last year's record
output of 119.3 million tonnes.
    * The International Grains Council on Thursday nudged up its
forecasts for world wheat production in the 2019/20 season,
largely reflecting an improved outlook for Russia's crop.

         
    MARKET NEWS  
    * Calm settled over Asian currency markets on Monday as
Japan kicked off a week of holidays, giving investors an extra
excuse to sit on their hands ahead of a Federal Reserve policy
meeting and U.S. jobs numbers.  
    * Oil prices fell on Monday, extending a slump from Friday
that ended weeks of rallying, after U.S. President Donald Trump
demanded that producer club OPEC raise output.  

    DATA/EVENTS (GMT)
0900    Euro Zone   Consumer Confid. Final     April
1100    Brazil      IGP-M Inflation Index      April
1230    USA         Consumption, Adjusted      March
        
 Grains prices at  0127 GMT
 Contract      Last  Change  Pct chg   Two-day chg    MA 30  RSI
 CBOT wheat  444.75    2.25   +0.51%        +0.74%   462.63   36
 CBOT corn   364.25    3.00   +0.83%        +1.96%   372.13   46
 CBOT soy    870.75    3.75   +0.43%        +1.34%   890.42   27
 CBOT rice    10.54   $0.08   +0.81%        +1.15%   $10.87   34
 WTI crude    63.09  -$0.21   -0.33%        -3.25%   $62.39   40
 Currencies                                                     
 Euro/dlr    $1.115  $0.000   -0.03%        +0.13%              
 USD/AUD     0.7048   0.001   +0.13%        +0.50%              
 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)
  
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