January 11, 2018 / 2:35 AM / 2 months ago

GRAINS-Wheat edges down, but lingers near six-day high

    SYDNEY, Jan 11 (Reuters) - U.S. wheat futures edged lower
for the first time in three sessions on Thursday, though prices
lingered near a six-day high amid forecasts for lower French
production and slower-than-expected Black Sea exports.
    * The most active wheat futures on the Chicago Board Of
Trade were down 0.2 percent to $4.33-1/4 a bushel by 0214
GMT, having closed up 0.5 percent on Wednesday when prices hit
$4.35 a bushel - the highest since January 4.
    * The most active soybean futures were unchanged at
$9.54-3/4 a bushel, having closed down 0.9 percent on Wednesday
when prices hit $9.51-3/4 a bushel - the lowest since December
    * The most active corn futures were unchanged at $3.49
a bushel, having closed flat in the previous session.
    * Analysts polled by Reuters expected the USDA to boost U.S.
soybean stocks after a record-large harvest at the end of last
year and slowing exports due to quality issues.
    * Brazil's 2017-18 soybean crop is expected to be 111.8
million tonnes, 1.9 percent higher from the previous estimate,
Céleres consultancy said on Tuesday.
    * The USDA is expected to show smaller U.S. winter wheat
seedings, in the agency's first forecast for 2018.
    * Wheat exports from Ukraine are running behind last season
with 11.4 million tonnes of wheat exported since July, down from
12 million tonnes at the same point last year, the agriculture
ministry said on Wednesday.
    * Farming agency FranceAgriMer lowered its forecast for
French soft wheat exports outside the European Union this season
for a third straight month on Wednesday, predicting 9.3 million
tonnes versus 9.5 million last month.
    * The dollar nursed its losses against the yen on Thursday,
having suffered its biggest one-day drop in nearly eight months
following a report that China was ready to slow or halt its
purchases of U.S. Treasuries.  
    * Oil prices held near three-year highs on Thursday,
supported by a surprise drop in U.S. production and lower crude
inventories, although analysts increasingly warned of signs that
fuel markets have overheated.  
    * The three major U.S. stock indexes ended lower on
Wednesday after a choppy trading session as investors worried
that China would slow U.S. government bond purchases and that
U.S. President Donald Trump would end a key trade agreement.
0900  Germany    Full Year GDP           2017
1000  Euro Zone  Industrial Production   Nov
 Grains prices at  0214 GMT
 Contract      Last  Change   Pct chg  Two-day chg   MA 30   RSI 
 CBOT wheat  433.25   -1.00    -0.23%       +0.23%  426.65     59
 CBOT corn   349.00    0.00    +0.00%       +0.00%  351.08     46
 CBOT soy    954.75   -0.25    -0.03%       -0.93%  979.73     32
 CBOT rice    11.90   $0.00    -0.04%       -0.38%  $12.13     47
 WTI crude    63.52  -$0.05    -0.08%       +0.89%  $59.03     81
 Euro/dlr    $1.196  $0.001    +0.12%       +0.20%               
 USD/AUD     0.7872   0.003    +0.38%       +0.63%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 (Reporting by Colin Packham; Editing by Sunil Nair)
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