September 20, 2018 / 1:10 AM / 8 months ago

GRAINS-Soybean prices edge down, linger near decade-low

    SYDNEY, Sept 20 (Reuters) - U.S. soybean futures inched
lower on Thursday after gaining 2 percent in the previous
session, moving back towards to a decade-low touched earlier in
the week as the Sino-U.S. trade war threatens U.S. exports.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board of
Trade were down 0.1 percent at $8.29-1/4 a bushel by 0039
GMT, having firmed 2 percent on Wednesday.
    * Soybeans on Tuesday hit their lowest since December 2008
at $8.12-1/4 a bushel on Tuesday.
    * The most active corn futures were down 0.1 percent
at $3.45-1/2 a bushel, having gained 0.7 percent in the previous
session.
    * The most active wheat futures were down 0.1 percent
at $5.22 a bushel, having closed up 2.4 percent on Wednesday. 
    * Soybean prices have come under sustained pressure from the
U.S.-China trade war.
    * Traders have also been monitoring dry conditions and the
potential for more cold weather in Australia, a key wheat
exporter, following possible frost damage last weekend.
         
    MARKET NEWS  
    * The U.S. dollar edged lower against the euro and fell to
the lowest in nearly three weeks against the risk-sensitive
Aussie on Wednesday, as worries over the trade row between China
and the United States eased.  
    * U.S. oil futures surged nearly 2 percent on Wednesday as
they were bolstered by a fifth weekly crude inventory drawdown
and strong domestic gasoline demand amid ongoing global supply
concerns over U.S. sanctions on Iran that come into force in
November.  
    * The S&P 500 and the Dow Jones industrial average rose on
Wednesday, with the Dow hitting its highest closing level since
late January.  
        
 Grains prices at  0039 GMT
 Contract          Last    Change   Pct chg   Two-day chg   MA 30
 CBOT wheat      522.00     -0.50    -0.10%        +2.25%  535.43
 CBOT corn       345.50     -0.25    -0.07%        +0.66%  363.70
 CBOT soy        829.25     -0.75    -0.09%        +1.87%  852.24
 CBOT rice         9.88     $0.08    +0.82%        -1.69%  $10.59
 WTI crude        71.43     $0.31    +0.44%        +2.26%  $68.35
 Currencies                                                      
 Euro/dlr        $1.167    $0.000    +0.00%        +0.06%        
 USD/AUD         0.7264     0.000    +0.01%        +0.64%        
 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)
  
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