January 12, 2018 / 2:31 AM / 11 days ago

GRAINS-Soybeans fall, set to finish the week down 2 percent

    SYDNEY, Jan 12 (Reuters) - U.S. soybean futures edged lower
on Friday, under pressure from expectations that the U.S.
Department of Agriculture will later report bigger U.S.
stockpiles, pushing the oilseed to its biggest weekly fall in a
month.

         
    FUNDAMENTALS  
    * The most active soybeans futures on the Chicago Board Of
Trade down more than 2 percent for the week, the biggest
weekly drop in a month.
    * The most active corn futures down more than 0.5
percent for the week, the biggest weekly fall in a month.
    * The most active wheat futures up more than 0.5
percent for the week, the fourth straight weekly gain.
    * Analysts expect the USDA crop data to show smaller U.S.
winter wheat plantings and a decline in U.S. corn ending stocks.

    * Agroconsult on Thursday said Brazil should harvest 114.1
million tonnes of soybeans in the 2017/18 crop season, which
would match an all-time record set in 2016/17. The consultancy
in November forecast a 111-million-tonne harvest.
    * Weekly U.S. soybean export sales of 607,400 tonnes and
corn sales of 437,800 tonnes were both within analyst estimates.

    * U.S. wheat exports dropped to 71,500 tonnes, a
marketing-season low and below estimates for 250,000 to 450,000
tonnes.
         
    MARKET NEWS  
    * The dollar slumped against rivals on Friday on the back of
weak factory inflation data, while the euro enjoyed solid
support after the European Central Bank hinted that it could be
gearing up to trim its massive monetary stimulus.  
    * Oil prices eased on Friday after hitting their highest
levels since December 2014 the previous day.  
    * Wall Street closed at record highs on Thursday as rising
oil prices lifted energy stocks and investors bet on a strong
U.S. corporate earnings season.  
    
    DATA/EVENTS (GMT)
      China  Exports, Imports, Trade Balance   Dec
1330  U.S.   Core CPI                          Dec
1330  U.S.   Retail Sales                      Dec
        
 Grains prices at  0201 GMT
 Contract        Last  Change  Pct chg  Two-day chg   MA 30   RSI 
 CBOT wheat    433.75    0.50   +0.12%       -0.12%  426.62     58
 CBOT corn     348.75    0.00   +0.00%       -0.07%  350.93     40
 CBOT soy      948.75   -1.25   -0.13%       -0.65%  977.71     27
 CBOT rice      11.74   $0.01   +0.09%       -1.39%  $12.10     34
 WTI crude      63.60  -$0.20   -0.31%       +0.05%  $59.25     78
 Currencies                                                       
 Euro/dlr      $1.204  $0.001   +0.09%       +0.81%               
 USD/AUD       0.7885   0.000   -0.06%       +0.55%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
    

 (Reporting by Colin Packham; Editing by Amrutha Gayathri)
  
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