September 27, 2018 / 12:56 AM / 9 months ago

GRAINS-Soybean prices fall for first time in three sessions

    SYDNEY, Sept 27 (Reuters) - U.S. soybean futures fell for
the first time in three sessions on Thursday, although signs
that South American buyers could somewhat offset the impact of
China shunning U.S. supplies offered some support to prices.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade were down 0.2 percent to $8.48-3/4 a bushel by 0020
GMT, having firmed 0.5 percent on Wednesday.
    * The most active corn futures were down 0.3 percent
at $3.62 a bushel, after closing the previous session down 0.2
percent.
    * The most active wheat futures were down 0.3 percent
at $5.15-3/4 a bushel, having ended down 0.6 percent on
Wednesday. 
    * The U.S. Department of Agriculture (USDA) said on
Wednesday that Mexico bought 671,934 tonnes of U.S. soybeans for
delivery during the 2018-19 marketing year.
    * China has shifted soy purchases from the United States to
Brazil, the world's No. 1 exporter of the oilseed, and Argentina
because of the trade war with Washington, according to analysts
and trade data.
    * Brazil and Argentina are expected to import more U.S.
soybeans as a result, analysts said.
    * The USDA will issue its latest weekly U.S. export sales
data on Thursday. 
         
    MARKET NEWS  
    * The dollar gained on Wednesday in choppy trading after the
Federal Reserve raised U.S. interest rates as expected, flagged
more rate hikes and signalled the end of the "accommodative"
policy era.  
    * Oil prices eased on Wednesday after U.S. data showed a
surprise build in domestic crude inventories, but an impending
drop in Iranian exports kept Brent futures above $80 a barrel
and on track for a fifth straight quarterly gain.  
    * A Wall Street rally collapsed and stocks turned negative
shortly before the market close on Wednesday after investors
reassessed the Fed's policy statement and reduced their risk as
they weighed how long the U.S. central bank would continue to
raise interest rates.  
    
    DATA/EVENT AHEAD (GMT)
0600  Germany           GfK consumer sentiment              Oct
0900  Euro zone         Business climate                    Sep
1200  Germany           Consumer prices                     Sep
1230  U.S.              Durable goods                       Aug
1230  U.S.              GDP Final                           Q2
1230  U.S.              Wholesale inventories               Aug
1230  U.S.              Weekly jobless claims
1400  U.S.              Pending homes sales                 Aug
2030  Federal Reserve Chairman Jerome Powell gives brief        
  remarks on the U.S. economy before event
      
 Grains prices at  0020 GMT
 Contract         Last    Change    Pct chg  Two-day chg    MA 30
 CBOT wheat     515.75     -1.75     -0.34%       -0.96%   528.33
 CBOT corn      362.00     -1.00     -0.28%       -0.48%   361.57
 CBOT soy       848.75     -1.25     -0.15%       +0.35%   847.93
 CBOT rice        9.79     $0.00     +0.00%       -0.46%   $10.50
 WTI crude       72.43     $0.86     +1.20%       +0.21%   $69.17
 Currencies                                                      
 Euro/dlr       $1.175    $0.002     +0.14%       -0.14%         
 USD/AUD        0.7260     0.000     +0.06%       +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)
  
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