March 27, 2019 / 1:09 AM / in 23 days

GRAINS-Wheat edges higher, holds near 1-month high

    SYDNEY, March 27 (Reuters) - U.S. wheat futures nudged
higher on Wednesday to sit near a one-month high as signs of
improved demand for North American supplies and adverse weather
supported prices.    
    
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade were up 0.1 percent at $4.69-3/4 a bushel. Wheat
closed down 0.1 percent on Tuesday after prices earlier hit
$4.78 a bushel - the highest since Feb. 25.
    * The most active soybean futures were down 0.1
percent at $9.00 a bushel, having closed down 0.6 percent on
Tuesday.
    * The most active corn futures were down 0.2 percent
to $3.76-1/2 a bushel, having closed down 0.7 percent in the
previous session.
    * Egypt's state grains buyer said on Tuesday it bought
120,000 tonnes of U.S. soft red wheat in an international
purchase tender.
    * Snow covering much of North Dakota, the top U.S. wheat
state, could mean a delay in planting spring wheat if there is a
sudden thaw.
    * Farmers from Missouri to South Dakota have seen their corn
and soybean fields flooded as winter snow melts, a sign of what
may be in store for North Dakota. [nL1N2171L1
    * Traders await further details from U.S.-China trade talks.
A U.S. trade delegations will visit China starting Thursday for
the next round of negotiations.
         
    MARKET NEWS  
    * The U.S. dollar inched higher against a basket of
currencies on Tuesday as benchmark U.S. 10-year Treasury debt
yields rebounded from 15-month lows due to stock gains on Wall
Street as investors brushed aside disappointing domestic data on
housing starts and consumer confidence.  
    * Oil rose nearly 2 percent on Tuesday as attention centred
on geopolitical factors tightening supplies that are leading to
falling exports from Venezuela and declining U.S.
inventories.  
    * U.S. stocks gained on Tuesday, with financials snapping a
five-day losing streak as Treasury yields stabilized above
15-month lows.  
    
    DATA/EVENTS (GMT)
    0745   France   Consumer Confidence    March
    0745   France   Producer Prices MM     Feb
    1230   US       International Trade    Jan
    1230   Canada   Trade Balance          Jan
    1500   US       Current Account        Q4
    1600   US       Federal Reserve issues annual benchmark 
    revisions to its U.S industrial production and capacity use
    data from 1972 through March 2019
        
 Grains prices at  0013 GMT
 Contract       Last  Change   Pct chg  Two-day chg    MA 30  RSI
 CBOT wheat   469.75    0.50    +0.11%       +0.05%   468.18   62
 CBOT corn    376.50   -0.75    -0.20%       -0.86%   374.79   63
 CBOT soy     900.00   -0.75    -0.08%       -0.72%   909.61   49
 CBOT rice     11.26   $0.00    +0.00%       +0.85%   $10.68   82
 WTI crude     59.83  -$0.11    -0.18%       +1.72%   $57.29   67
 Currencies                                                      
 Euro/dlr     $1.127  $0.001    +0.06%       -0.35%              
 USD/AUD      0.7132   0.000    -0.03%       +0.30%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
    

 (Reporting by Colin Packham; editing by Richard Pullin)
  
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