September 29, 2017 / 1:28 AM / in 24 days

GRAINS-Soybeans slip, but set to post monthly gain of 1.5 pct

    SYDNEY, Sept 29 (Reuters) - U.S. soybeans edged lower on Friday, but were
poised to finish the month higher by 1.5 percent on the back of strong Chinese
demand. 
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of Trade had
gained 1.5 percent this month as of Thursday's close, recouping some of the 6
percent loss from the previous month.
    * The most active corn has been down nearly 2 percent for the month,
extending losses into a second straight month.
    * The most active wheat has gained about 5 percent so far in
September, the first monthly gain in three.
    * The USDA reported the third-largest weekly soybean export sales total on
record, at just over 3.1 million tonnes for old- and new-crop marketing years
combined.
    * Of the total, 1.4 million tonnes of soybeans were earmarked for China, the
world's top buyer. 
    * The USDA will issue the small grains report on Friday. Analysts surveyed
by Reuters on average expect the government to lower its estimate of U.S. 2017
wheat production.
    * For corn, analysts expect the USDA to report U.S. Sept. 1 corn stocks at
2.353 billion bushels, which would be the largest since 1988.
             
    MARKET NEWS  
    * The dollar slipped against a basket of currencies on Thursday, snapping a
three-day winning streak, as investors looked to take profits on the greenback's
rally this week ahead of the end of the quarter.  
    * Oil prices slipped on Thursday, further backing off from 2015 peaks hit
earlier in the week as tension around northern Iraq following the Kurdistan
region's vote in favour of independence spurred fresh supply concerns.  
    * Wall Street edged higher on Thursday, as the S&P 500 eked out a record on
gains in McDonald's and healthcare names, while investors continued to hope
President Donald Trump will be able to make progress on tax reform.  
    
    DATA (GMT) 
0830  U.K.   GDP                     Q2 
1230  U.S.   Personal Income         Aug 
1345  U.S.   Chicago PMI             Sept 
1400  U.S.   U Mich Sentiment Final  Sept 
1430  U.S.   ECRI weekly index       weekly 
        
 Grains prices at  0054 GMT
 Contract       Last   Change  Pct chg  Two-day chg    MA 30  RSI
 CBOT wheat   453.75    -1.25   -0.27%       -1.68%   442.03   63
 CBOT corn    351.75    -0.75   -0.21%       -0.64%   354.38   51
 CBOT soy     959.00    -0.50   -0.05%       -0.67%   957.00   45
 CBOT rice     12.05    $0.07   +0.63%       +1.22%   $12.59   36
 WTI crude     51.57    $0.01   +0.02%       -1.09%   $49.03   66
 Currencies                                                      
 Euro/dlr     $1.178   $0.000   +0.00%       +0.35%              
 USD/AUD      0.7849   -0.001   -0.09%       +0.01%              
 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)
  

Our Standards:The Thomson Reuters Trust Principles.
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