January 5, 2018 / 2:25 AM / 19 days ago

GRAINS-Wheat edges lower, set to finish the week up for third straight week

    SYDNEY, Jan 5 (Reuters) - U.S. wheat edged lower on Friday,
retreating for a second day, but was still poised to record a
third straight week in positive territory due to concerns about
sub-zero temperatures across a key U.S. growing region.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade up nearly 1.5 percent for the week, adding to gains
of 0.5 percent and 1.6 percent.
    * The most active soybean futures up nearly 1 percent
for the week, the second straight weekly rally.
    * The most active corn futures down nearly 0.5 percent
for the week after posting gains of 1.3 percent last week.
    * Wheat draws support from fears that frigid temperatures
across a key growing U.S. region threaten production.

    * Soybeans under pressure as weather outlook for Argentina
improves.
         
    MARKET NEWS  
    * The euro hovered near a three-year high against the
sagging dollar on Friday, while improving investor risk appetite
weighed on the yen.  
    * Oil prices held firm on Friday, with Brent crude up by
more than 10 percent from its December lows on the back of
political tensions in OPEC-member Iran and a tightening U.S.
market.  
    * The Dow industrials broke above the 25,000 level for the
first time on Thursday and other major indexes hit closing
record highs again, propelled by strong global economic data
that extended the New Year's rally for the stock market.  
    
    DATA (GMT)
0700   Germany     Retail sales                          Nov
1000   Euro Zone   CPI                                   Dec 
1000   Euro Zone   PPI                                   Nov 
1330   U.S.        Empolyment data                       Dec 
1330   U.S.        Trade data                            Nov
1500   U.S.        Factory orders                        Nov 
1500   U.S.        Durables orders                       Nov
1500   U.S.        ISM Non-manufacturing business index  Dec
        
 Grains prices at  0205 GMT
 Contract      Last   Change  Pct chg  Two-day chg    MA 30   RSI 
 CBOT wheat  433.00    -1.00   -0.23%       -0.69%   426.94     66
 CBOT corn   350.75    -0.25   -0.07%       -0.64%   351.88     52
 CBOT soy    969.25     1.50   +0.15%       +0.05%   985.92     51
 CBOT rice    11.72    $0.01   +0.09%       +0.64%   $12.22     30
 WTI crude    61.96   -$0.05   -0.08%       +0.54%   $58.42     82
 Currencies                                                       
 Euro/dlr    $1.207   $0.000   +0.02%       +0.48%                
 USD/AUD     0.7845   -0.002   -0.23%       +0.13%                
 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)
  
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