September 24, 2019 / 1:43 AM / a month ago

GRAINS-Soybeans slip; Chinese buys of North American supplies cap losses

    SYDNEY, Sept 24 (Reuters) - U.S. soybean futures edged lower
on Tuesday, retreating from a four-day high touched in the
previous session, but losses were checked by Chinese purchases
of North American supplies. 
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade were down 0.1% at $8.91-1/2 a bushel by 0103 GMT,
after firming 1.1% on Monday when prices hit a Sept 19 high of
$8.99-1/4 a bushel.
    * The most active corn futures were down 0.3% to $3.72
a bushel, after gaining 0.7% in the previous session.
    * The most active wheat futures were little changed at
$8.81-3/4 a bushel, having closed down 0.6% on Monday. 
    * Chinese importers bought about 10 cargoes of U.S. soybeans
on Monday, or about 600,000 tonnes, for shipment from Pacific
Northwest export terminals from October to December, two traders
with direct knowledge of the deals said.
    * Over the weekend, China's senior agricultural
representative in recent U.S.-China trade talks told
state-backed media group Yicai that last week's meetings between
the world's two largest economies achieved a "good outcome."

             
    MARKET NEWS  
    * The euro nursed losses on Tuesday after weak readings on
German manufacturing rattled confidence, while the dollar found
broad support as investors looked for signs of progress from
Sino-U.S. trade negotiations.  
    * Oil ended about 1% higher on Monday after a volatile
trading session as traders focused on when Saudi Arabia would be
able to restore full output following the Sept. 14 attack on its
facilities.  
    * U.S. stocks barely budged on Monday, with slight gains in
shares of Apple offset by mixed economic data that added to
caution over the prolonged U.S.-China trade war.  
        
 Grains prices at  0103 GMT
 Contract       Last  Change  Pct chg  Two-day chg   MA 30   RSI 
 CBOT wheat   481.75   -1.25   -0.26%       -0.52%  475.93     51
 CBOT corn    372.00   -1.25   -0.33%       +0.34%  368.16     67
 CBOT soy     891.75   -0.75   -0.08%       +1.02%  875.88     60
 CBOT rice     12.01  -$0.05   -0.41%       -2.48%  $11.85     48
 WTI crude     58.45  -$0.19   -0.32%       +0.62%  $56.44     54
 Currencies                                                      
 Euro/dlr     $1.099  $0.000   -0.01%       -0.25%               
 USD/AUD      0.6771   0.000   -0.03%       +0.04%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Rashmi Aich)
  
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