December 18, 2018 / 3:46 AM / 3 months ago

GRAINS-Soybeans mixed in quiet trade; corn, wheat slightly softer

    * Soybeans unable to sustain Monday's gains
    * Market on lookout for more Chinese import deals
    * Corn, wheat tread water in thin trade

    SINGAPORE, Dec 18 (Reuters) - Chicago soybean futures
retreated from Monday's highs early Tuesday as the Asian session
failed to drum up follow-on buying interest in the absence of
fresh Chinese buying.
    Wheat and corn prices also drifted lower in thin trade,
while soymeal and soyoil futures stayed largely flat.
    Soy traders remain on watch for additional Chinese import
demand, but few signs of fresh buying have emerged beyond
confirmation of firm U.S. export inspections overnight.

    The U.S. Department of Agriculture reported soybean
purchases of more than 1.5 million tonnes by China last week -
the first in six months - but has not confirmed fresh deals
since, dashing hopes of steady waves of Chinese interest. 
    The most-active soybean contract on the Chicago Board Of
Trade was down less than 1 percent at around $9.04 a
bushel, compared to Monday's high of $9.09-1/4. 
    Wheat was down nearly 0.4 percent, but remained
broadly supported by tightening global inventories stemming from
production problems in key growing areas, including the European
Union which has become a net grain importer for the first time
in a decade.  
    Corn was slightly lower in thin trade, extending the
softer tone from Monday's session as traders reacted to a
larger-than-expected net long position held by commodity funds
in a weekly government report issued after the closing bell on
Friday. 
    Soymeal and soyoil futures held marginally firmer in thin
trade.
    
 Grains prices at  0321 GMT
 Contract    Last    Change  Pct chg  Two-day chg  MA 30   RSI
 CBOT wheat  532.50  -2.75   -0.01%   +0.02%       513.30  65.81
 CBOT corn   383.75  -0.25   -0.01%   +0.02%       379.41  77.17
 CBOT soy    904.25  -0.50   -0.01%   -0.00%       893.43  50.09
 CBOT rice   10.57   $0.15   -0.14%   +6.04%       $10.75  39.05
 WTI crude   49.37   -$0.50  -1.00%   +4.00%       $54.02  
 Currencies                                                
 Euro/dlr    $1.135  $0.001  +0.02%   +0.04%               
 USD/AUD     0.718   -0.001  -0.02%   -0.01%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per
 hundredweight
 RSI 14, exponential
   

 (Reporting by Gavin Maguire; Editing by Subhranshu Sahu)
  
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