September 25, 2017 / 1:20 AM / 3 months ago

GRAINS-Wheat falls nearly 1 pct to five-day low

    SYDNEY, Sept 25 (Reuters) - U.S. wheat fell nearly 1 percent to a five-day
low on Monday on abundant global supplies.
    
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of Trade were
down 0.8 percent at $4.45-3/4 a bushel by 0054 GMT, near the session low of
$4.44 a bushel - the lowest since Sept. 20. Wheat closed down 0.7 percent on
Friday. 
    * The most active soybean futures were little changed at $9.84 a
bushel, having firmed 1.4 percent on Friday.
    * The most active corn futures were down 0.1 percent at $3.53 a
bushel, having closed up 0.9 percent in the previous session.
    * The U.S. Department of Agriculture confirmed that private exporters sold
190,000 tonnes of U.S. soybeans to Mexico - the 10th daily soybean sales
announcement in the last 11 business days.
    * Egyptian prosecutors on Sunday said they had approved a decision to sieve
a Romanian wheat shipment which had been rejected by the agriculture quarantine
authority for containing poppy seeds.
    * Forecasts called for showers in parts of the northwest Corn Belt in the
next few days but central and eastern portions of the belt should have dry and
warm conditions for harvest.
         
    MARKET NEWS  
    * The euro slipped in early Asian trading on Monday after Germany's election
showed surging support for a far-right party that left Chancellor Angela Merkel
scrambling to form a governing coalition.  
    * Oil prices ended nearly 1 percent higher on Friday, close to their highest
levels in months, as major producers meeting in Vienna said they may wait until
January before deciding whether to extend output curbs beyond the first quarter.
  
    * The S&P 500 closed slightly higher on Friday even though Apple was a drag,
as worries about Washington's latest healthcare legislation proposal eased and
investors shrugged off concerns about North Korea.  
        
    ATA AHEAD (GMT) 
0800  Germany          Ifo business climate                Sep 
1230  U.S.             National activity index             Aug 
1430  U.S.             Dallas Fed manufacturing index      Sep 
      
 Grains prices at  0054 GMT
 Contract       Last   Change   Pct chg  Two-day chg   MA 30  RSI
 CBOT wheat   445.75    -3.75    -0.83%       -1.49%  441.28   59
 CBOT corn    353.00    -0.50    -0.14%       +0.79%  356.52   60
 CBOT soy     984.00    -0.25    -0.03%       +1.36%  953.20   77
 CBOT rice     12.41    $0.04    +0.32%       -2.40%  $12.67   39
 WTI crude     50.61   -$0.05    -0.10%       +0.12%  $48.37   68
 Currencies                                                      
 Euro/dlr     $1.193  -$0.002    -0.20%       -0.09%             
 USD/AUD      0.7967    0.001    +0.06%       +0.45%             
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 

 (Reporting by Colin Packham; Editing by Subhranshu Sahu)
  

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