October 24, 2018 / 1:50 AM / 8 months ago

GRAINS-Corn prices edge down amid brisk pace of U.S. harvest

    SYDNEY, Oct 24 (Reuters) - U.S. corn futures fell for the
first time in three sessions on Wednesday as the U.S. harvest
continues at a brisk pace.
         
    FUNDAMENTALS  
    * The most active corn futures on the Chicago Board of
Trade were down 0.3 percent at $3.69 a bushel by 0016 GMT,
having gained 0.2 percent in the previous session.
    * The most active soybean futures were down 0.2
percent at $8.56 a bushel, after losing 0.1 percent on Tuesday.
    * The most active wheat futures climbed 0.1 percent to
$5.09-1/2 a bushel, having ended Tuesday up 0.2 percent.
    * The U.S. Department of Agriculture late on Monday said the
U.S. corn harvest was 49 percent complete, ahead of the
five-year average of 47 percent but behind an average of trade
expectations for 51 percent.
    * The USDA pegged the U.S. soybean harvest as 53 percent
complete, lagging the five-year average of 69 percent but ahead
of the average trade estimate of 52 percent. 
         
    MARKET NEWS  
    * The U.S. dollar recovered some of its early losses on
Tuesday afternoon as the sell-off in U.S. stocks eased, but
remained down against other safe-haven currencies for the day.
  
    * Oil prices on Wednesday extended falls from the previous
day, when crude slumped as much as 5 percent, after Saudi Arabia
said it would make up for supply disruptions from U.S. sanctions
targeting Iran's petroleum exports from next month.  
    * U.S. stocks fell on Tuesday after worries about the
earnings outlook added to recent selling pressure, though major
indexes ended well off the day's lows as investors snapped up
beaten-down shares late in the session.  
    
    DATA AHEAD (GMT)
0645  France          Business climate manufacturing         Oct
0715  France          Markit manufacturing PMI               Oct
0730  Germany         Markit manufacturing PMI               Oct
0800  Euro zone       Markit manufacturing PMI               Oct
1300  U.S.            Monthly home price index               Aug
1345  U.S.            Markit manufacturing PMI               Oct
1400  U.S.            New home sales                         Sep
1800 Federal Reserve issues Beige Book of economic condition
        
 Grains prices at  0116 GMT
 Contract      Last   Change    Pct chg     Two-day chg     MA 30
 CBOT wheat  509.50     0.50     +0.10%          +0.30%    514.96
 CBOT corn   369.00    -1.25     -0.34%          -0.14%    363.40
 CBOT soy    856.00    -1.50     -0.17%          -0.29%    854.82
 CBOT rice    11.03    $0.00     +0.00%          -1.82%    $10.66
 WTI crude    66.38   -$0.05     -0.08%          -4.03%    $71.46
 Currencies                                                      
 Euro/dlr    $1.147   $0.000     -0.02%          +0.03%          
 USD/AUD     0.7089    0.001     +0.07%          +0.14%          
 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)
  
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