December 17, 2018 / 2:53 AM / 3 months ago

GRAINS-Soybeans rebound about 1 pct on signs of easing Sino-US trade tensions

    SYDNEY, Dec 17 (Reuters) - U.S. soybean futures rose nearly
1 percent on Monday, rebounding from an eight-day low touched in
the previous session, as the market drew comfort from signs that
U.S.-China trade tensions were easing.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade were up 0.9 percent at $9.08-1/4 a bushel by 0234
GMT, having closed down 0.7 percent on Friday when prices hit a
low of $9.00 a bushel - the lowest since Dec 6.
    * 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 0.5 percent
at$5.321-3/4 a bushel, having closed down 1.1 percent on Friday.
    * 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 USDA on Tuesday left unchanged its forecast for U.S.
soybean stocks at the end of the 2018-19 marketing year at a
record-high 955 million bushels, doubling from a year earlier.

    * Russia's 2018 wheat harvest totalled 70 million tonnes,
the Interfax news agency cited the agriculture ministry's first
deputy head as saying.
         
    MARKET NEWS  
    * The dollar held near a 19-month high on Monday, bolstered
by safe-haven buying as heightened concerns of a global economic
slowdown reduced appetite for riskier assets such as stocks and
Asian currencies.  
    * Oil prices climbed on Monday after U.S. drilling activity
fell to its lowest level in about two months, but increasing
concerns about weaker growth in major economies kept a lid on
gains.  
    
 Grains prices at  0234 GMT
 Contract        Last    Change    Pct chg   Two-day chg    MA 30
 CBOT wheat    532.75      2.75     +0.52%        -0.61%   517.46
 CBOT corn     385.00      0.25     +0.06%        +0.20%   379.49
 CBOT soy      908.25      7.75     +0.86%        +0.14%   892.93
 CBOT rice      10.64     $0.06     +0.57%        +1.77%   $10.76
 WTI crude      51.28     $0.08     +0.16%        -2.47%   $54.53
 Currencies                                                      
 Euro/dlr      $1.131    $0.000     +0.01%        -0.47%         
 USD/AUD       0.7174     0.000     -0.03%        -0.72%         
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Subhranshu Sahu)
  
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