December 17, 2018 / 3:43 AM / in 5 months

GRAINS-Soybeans firm, rebound from 8-day low

    * Soybeans firm as U.S.-China trade tensions ease
    * Corn little changed, wheat firms 

    By Colin Packham
    SYDNEY, Dec 17 (Reuters) - U.S. soybean futures rose more
than 0.5 percent on Monday, rebounding from an eight-day low
touched in the previous session, as signs of easing trade
tensions between Washington and Beijing supported gains.
    Corn was unchanged, while wheat rose 0.5 percent as prices
rebounded from losses of more than 1 percent in the previous
session.
    The most active soybean futures on the Chicago Board Of
Trade were up 0.7 percent at $9.06-3/4 a bushel by 0323
GMT, having closed down 0.7 percent on Friday when prices hit a
low of $9.00 a bushel - the lowest since Dec 6.
    Analysts said the market was buoyed by expectations that
China will buy large amounts of U.S. exports as part of a
temporary truce in the trade war between the two.
    "U.S. soybean exports are likely to benefit from easing
US-China trade tensions," said Tobin Gorey, director of
agricultural strategy, Commonwealth Bank of Australia.
    The U.S. Department of Agriculture (USDA) on Thursday
confirmed 1.13 million tonnes of U.S. soybeans sold to China,
and on Friday confirmed another 300,000 tonnes sold to China
plus 130,000 tonnes sold to unknown destinations.

    The most active corn futures were little changed at
$3.85 a bushel, having gained 0.1 percent in the previous
session.
    The most active wheat futures were up 0.4 percent
at$5.32-3/4 a bushel, having closed down 1.1 percent on Friday.
    Russia's 2018 wheat harvest totalled 70 million tonnes, the
Interfax news agency cited the agriculture ministry's first
deputy head as saying.
        
 Grains prices at  0323 GMT
 Contract        Last    Change    Pct chg   Two-day chg    MA 30
 CBOT wheat    532.25      2.25     +0.42%        -0.70%   517.44
 CBOT corn     385.00      0.25     +0.06%        +0.20%   379.49
 CBOT soy      906.75      6.25     +0.69%        -0.03%   892.88
 CBOT rice      10.63     $0.05     +0.52%        +1.72%   $10.76
 WTI crude      51.32     $0.12     +0.23%        -2.40%   $54.53
 Currencies                                                      
 Euro/dlr      $1.131    $0.000     +0.03%        -0.45%         
 USD/AUD       0.7180     0.000     +0.06%        -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 Sunil Nair)
  
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