December 29, 2017 / 2:13 AM / 22 days ago

GRAINS-Wheat edges lower, set for first annual gain in five years

    SYDNEY, Dec 29 (Reuters) - U.S. wheat futures edged lower
for a second consecutive session on Friday but were set to
finish the year in positive territory for the first time in five
years as concerns about supplies of high quality wheat support
prices.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade are set to finish the year up about 4.5 percent, the
first annual gain since 2012.
    * The most active soybean futures are down nearly 5
percent during 2017 after posting gains of more than 16 percent
a year earlier. 
    * The most active corn futures are little changed for
the year.
    * Concerns about supplies of high quality wheat supports
prices.
    * Soybeans weighed down by concerns about amid ample global
supplies, fuelled by improving weather conditions in South
America.
    * Half of U.S. soybeans exported to China this year would
not meet Chinese rules for routine delivery in 2018, according
to shipping data reviewed by Reuters, signalling new hurdles in
the $14-billion-a-year business.
             
    MARKET NEWS  
    * The dollar wallowed near a one-month low against a basket
of currencies on Friday, while currencies like the Australian
and Canadian dollars were at two-month highs thanks to firmer
commodity prices.  
    * Oil prices edged up on Thursday, remaining near 2-1/2-year
highs after data showed strong demand for crude imports in China
and on increased U.S. refining activity that drew more crude
from inventories.  
    * U.S. stocks edged higher in light trading on Thursday,
buoyed by gains in financial stocks and as technology stocks
continued to slowly recover from a losing skid.  
   
 Grains prices at  0143 GMT
 Contract       Last   Change   Pct chg  Two-day chg  MA 30   RSI 
 CBOT wheat   426.75    -1.00    -0.23%       -0.29%  428.1     65
                                                          0  
 CBOT corn    350.75    -1.25    -0.36%       -0.85%  352.4     58
                                                          6  
 CBOT soy     955.50    -1.25    -0.13%       -1.24%  989.6     26
                                                          8  
 CBOT rice     11.66    $0.00    +0.00%       -1.19%  $12.1     33
                                                          0  
 WTI crude     60.14    $0.30    +0.50%       +0.84%  $57.7     75
                                                          0  
 Currencies                                                       
 Euro/dlr     $1.194   $0.000    -0.04%       +0.42%              
 USD/AUD      0.7796    0.000    +0.00%       +0.37%              
 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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