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GRAINS-Soybean prices set for biggest weekly gain in nearly 2 months
September 15, 2017 / 1:56 AM / 3 months ago

GRAINS-Soybean prices set for biggest weekly gain in nearly 2 months

    SYDNEY, Sept 15 (Reuters) - U.S. soybean prices eased
slightly on Friday, but remained on track to notch up their
biggest weekly gain in nearly two months, buoyed by robust
export demand.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board of
Trade were up nearly 1.5 percent for the week.
    * The most active corn futures were down nearly 1
percent for the week, set for their first weekly loss in three
weeks.
    * The most active wheat futures were up 1 percent for
the week, after closing last week little changed.
    * The U.S. Department of Agriculture reported export sales
of U.S. soybeans in the latest week at 1.6 million tonnes,
topping a range of trade expectations for 1.0 million to 1.3
million tonnes.
    * The USDA also said private exporters sold another 198,000
tonnes of U.S. soybeans to China.
         
    MARKET NEWS  
    * The yen and the Swiss franc edged higher on Friday after
North Korea fired a missile over Japan into the Pacific Ocean.
  
    * Oil prices were lower on Friday but largely held gains
that had prices flirting with multi-month highs, as the cleanup
after hurricanes in the United States gathered pace and the
outlook for demand took on a firmer tone.  
    * Rising shares of Boeing pulled the Dow Jones Industrial
Average up to a record high on Thursday, while the S&P 500 fell
as investors saw higher-than-expected inflation increasing the
chances of an interest rate hike.  
    
    DATA/EVENT AHEAD (GMT) 
0900  Euro zone   Eurostat trade                             Jul
0900  Euro zone   Labour costs                               Q2 
1230  U.S.        New York Fed manufacturing                 Sep
1230  U.S.        Retail sales                               Aug
1315  U.S.        Industrial output                          Aug
1400  U.S.        Business inventories                       Jul
1400  U.S.        University of Michigan sentiment index     Sep
                  European Union finance ministers and central
bank governors meet
        
 Grains prices at  0118 GMT
 Contract       Last   Change   Pct chg   Two-day chg   MA 30  RSI
 CBOT wheat   442.00    -1.00    -0.23%        -0.28%  447.37   60
 CBOT corn    353.25    -1.00    -0.28%        +0.50%  362.37   45
 CBOT soy     975.25    -0.75    -0.08%        +1.54%  950.62   64
 CBOT rice     12.81    $0.00    +0.00%        -1.08%  $12.65   54
 WTI crude     49.70   -$0.19    -0.38%        +0.81%  $48.15   63
 Currencies                                                       
 Euro/dlr     $1.190  -$0.001    -0.12%        +0.16%             
 USD/AUD      0.7990   -0.001    -0.19%        +0.08%             
 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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