September 30, 2019 / 12:54 AM / 2 months ago

GRAINS-Soybeans rebound from 1-week low, U.S.-China trade war worries limit gains

    By Colin Packham
    SYDNEY, Sept 30 (Reuters) - U.S. soybean futures edged up on Monday, rebounding from a one-week low touched in the previous session, though fears of
a protracted trade war between Washington and Beijing capped gains.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of Trade were up 0.3% at $8.85-1/2 a bushel by 0015 GMT, having closed down 0.6% on
Friday when prices hit a Sep. 20 low of $8.82 a bushel.
    * The most active corn futures were up 0.3% at $3.72-3/4 a bushel, having closed down 0.3% in the previous session.
    * The most active wheat futures were little changed at $8.81-3/4 a bushel, having closed up 0.6% on Friday when prices hit a Sep. 20 high of
$4.91 a bushel. 
    * Market eyes next U.S. grain stocks report slated for Monday.
    * The U.S. Department of Agriculture, through its daily reporting system, said private exporters sold 126,000 tonnes of U.S. soybeans to China for
delivery in the 2019-2020 marketing year that began Sept. 1.
    * However, fears about a protracted U.S.-China trade war was stoked by U.S. President Donald Trump administration considering delisting Chinese
companies from U.S. stock exchanges.
    * Weather forecasts suggested that previously expected cold weather risks to wide swaths of the Midwest may not have much of an impact on yields.
    * Excessively wet conditions in the northern U.S. Plains and Canadian Prairies have hurt the quality of the region's spring and durum wheat crops,
potentially tightening supplies of top grades of the grains, handlers and agronomists said.
                    
 Grains prices at  0015 GMT
 Contract      Last  Change  Pct chg   Two-day chg   MA 30   RSI 
 CBOT wheat  488.75    1.50   +0.31%        +0.93%  476.73     60
 CBOT corn   372.75    1.25   +0.34%        +0.07%  368.00     61
 CBOT soy    885.50    2.50   +0.28%        -0.34%  876.93     52
 CBOT rice    12.05  -$0.11   -0.86%        -0.25%  $11.89     53
 WTI crude    56.08   $0.17   +0.30%        -0.59%  $56.51     42
 Currencies                                                      
 Euro/dlr    $1.094  $0.000   -0.01%        +0.15%               
 USD/AUD     0.6761   0.000   -0.06%        +0.19%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; editing by Uttaresh.V)
  
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