December 20, 2018 / 2:24 AM / 8 months ago

GRAINS-Soybeans fall to two-week low as Chinese demand disappoints

    SYDNEY, Dec 20 (Reuters) - U.S. soybean futures fell on
Thursday as Chinese purchases of North American beans failed to
meet expectations, pushing prices to a two-week low.
    * The most active soybean futures on the Chicago Board Of
Trade were down 0.2 percent at $8.98 a bushel by 0203 GMT,
the lowest since Dec. 6. Soybeans closed down 0.7 percent on
    * The most active corn futures were unchanged at
$3.81-3/4 a bushel, having ended 0.7 percent lower in the
previous session.
    * The most active wheat futures were up 0.2 percent
at$5.23-1/2 a bushel, having closed 2.1 percent lower on
    * China's Sinograin said it had recently bought a few
batches of soybeans from the United States, amid a truce in a
trade war between the two nations.
    * Some ethanol makers have slowed output because of poor
profits, threatening corn demand from an industry that consumes
about a third of the U.S. harvest.
    * U.S. Energy Information Administration data showed output
at an average of 1.046 million barrels per day last week,
unchanged from the previous week.
    * The dollar was steady in Asian trade on Thursday, and was
off its overnight lows after the Federal Reserve rowed back from
a more aggressive policy-tightening path even as it gave markets
the impression of being much less cautious than they had
    * Oil prices fell on Thursday to erase most of their gains
from the day before, resuming declines seen earlier in the week
amid worries about oversupply and the outlook for the global
    * U.S. stocks declined sharply on Wednesday after the
Federal Reserve's forecast of fewer interest-rate increases in
2019 fell short of investors' hopes of a more dovish monetary
 Grains prices at  0203 GMT
 Contract         Last     Change   Pct chg  Two-day chg    MA 30
 CBOT wheat     523.50       1.00    +0.19%       -1.74%   518.41
 CBOT corn      381.75       0.00    +0.00%       -0.97%   379.32
 CBOT soy       898.00      -2.00    -0.22%       -1.07%   894.69
 CBOT rice       10.44     -$0.06    -0.57%       -0.85%   $10.73
 WTI crude       47.39     -$0.78    -1.62%       +2.49%   $52.94
 Euro/dlr       $1.138     $0.001    +0.05%       +0.18%         
 USD/AUD        0.7110      0.000    +0.04%       -0.97%         
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 (Reporting by Colin Packham; Editing by Sai Sachin Ravikumar)
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