October 17, 2017 / 1:22 AM / a month ago

GRAINS-Corn slips, harvest delays curb losses

    SYDNEY, Oct 17 (Reuters) - U.S. corn edged lower on Tuesday, though losses
were checked as the U.S. Department of Agriculture said harvesting of North
American crops were lagging behind market expectations.
         
    FUNDAMENTALS  
    * The most active corn futures on the Chicago Board Of Trade were down
0.1 percent at $3.50 a bushel by 0059 GMT, having closed 0.6 percent lower in
the previous session.
    * The most active soybean futures were down 0.1 percent at $9.90 a
bushel, having closed 0.9 percent lower on Monday.
    * The most active wheat futures were little changed at $8.81-3/4 a
bushel, having closed down 0.7 percent on Monday. 
    * The USDA said 29 percent of the U.S. corn crop has been harvested as of
Sunday, lagging behind market expectations for 31 percent.

    * Harvesting of the U.S. soybean crop was 49 percent complete, the USDA
said, matching analysts' expectations. 
    * The National Oilseed Processors Association said the September soybean
crush totalled 136.419 million bushels. Analysts had been expecting 138.071
million bushels.
    * The USDA said weekly export inspections of soybeans totalled 1.770 million
tonnes, topping forecasts that ranged from 1.100 million to 1.400 million.

             
    MARKET NEWS  
    * The dollar held to gains against the yen and euro on Tuesday, supported by
a rise in Treasury yields following a report that U.S. President Donald Trump
was favouring a policy hawk as the next head of the Federal Reserve.  
    * Crude prices rose 1 percent on Monday as Iraqi forces entered the oil-rich
city of Kirkuk, seizing territory from Kurdish fighters and briefly cutting some
crude output from OPEC's second-largest producer.  
    * All three major U.S. stock index rose to record closing highs on Monday,
with the Dow Jones Industrial Average less than 50 points below 23,000, ahead of
a long list of earnings this week and as financial shares recovered from last
week's losses.  
    
    DATA AHEAD (GMT)
0830  Britain          Consumer prices                 Sep
0830  Britain          Producer prices                 Sep
0900  Germany          ZEW economic sentiment          Oct
1000  Euro zone        Inflation final                 Sep
1230  U.S.             Import prices                   Sep
1230  U.S.             Export prices                   Sep
1315  U.S.             Industrial production           Sep
1400  U.S.             NAHB housing market index       Oct
     
 Grains prices at  0059 GMT
 Contract        Last   Change  Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat    436.25    -0.25   -0.06%       -0.74%  443.66    45
 CBOT corn     350.00    -0.50   -0.14%       -0.78%  351.98    51
 CBOT soy      990.00    -1.00   -0.10%       -1.02%  969.54    64
 CBOT rice      12.12    $0.00   +0.00%       -0.53%  $12.34    54
 WTI crude      51.82   -$0.05   -0.10%       +0.72%  $50.34    61
 Currencies                                                       
 Euro/dlr      $1.178  -$0.001   -0.09%       -0.32%              
 USD/AUD       0.7839   -0.001   -0.14%       -0.62%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
   

 (Reporting by Colin Packham; Editing by Subhranshu Sahu)
  

Our Standards:The Thomson Reuters Trust Principles.
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