March 27, 2018 / 1:10 AM / in 8 months

GRAINS-Wheat falls to more than one-month low

    SYDNEY, March 27 (Reuters) - U.S. wheat futures slipped on
Tuesday to more than a one-month low, as the U.S. Department of
Agriculture said crops in a key producing region improved last
week, easing fears of widespread crop losses from recent dry
    * The most active wheat futures on the Chicago Board Of
Trade were down 0.3 percent to $4.52-3/4 a bushel by 0023
GMT, having closed down 1.3 percent on Monday when prices hit a
low of $4.46-1/2 a bushel - the lowest since Feb. 22.
    * The most active soybean futures were little changed
at $10.25 a bushel, having closed down 0.3 percent on Monday.
    * The most active corn futures were up 0.1 percent to
$3.74-1/2 a bushel, having closed down 0.9 percent in the
previous session.
    * U.S. grain and soybean futures supported as market takes
comfort that China has not named those products for possible
tariff increases.
    * However, Chinese buyers of soybeans, the United States'
biggest agricultural export to the country, have been quietly
drawing up contingency plans to ensure supplies of critical raw
materials in the event of a trade war, sources said.

    * The U.S. Department of Agriculture (USDA) late on Monday
rated 13 percent of top winter wheat producer Kansas in
good-to-excellent condition, up from 11 percent a week earlier.

    * Rains expected to relieve Argentina's drought-hit soy and
corn crops failed to materialize over the weekend, all but
ending hope that yields might recover from four months of
unrelenting sun with more heat and dryness expected over the
days ahead.
    * The U.S. dollar fell to a five-week low against a basket
of major currencies on Monday, as optimism that the United
States and China are set to begin negotiations on trade helped
ease fears of a trade war and investors' appetite for risk
    * Crude oil futures slipped on Monday as investors cashed in
some profits from last week's rally but concerns about
Saudi-Iran tensions kept losses in check.  
    * Wall Street scored its best day in 2-1/2 years and the Dow
Jones Industrial Average saw its third-biggest point gain ever
on Monday, as trade war fears eased on reports the United States
and China are willing to renegotiate tariffs and trade
 Grains prices at 0023 GMT
 Contract        Last  Change  Pct chg  Two-day chg    MA 30  RSI
 CBOT wheat    452.75   -1.50   -0.33%       -1.63%   476.57   34
 CBOT corn     374.50    0.50   +0.13%       -0.73%   380.49   38
 CBOT soy     1025.00   -0.50   -0.05%       -0.32%  1043.53   41
 CBOT rice      12.45  -$0.02   -0.12%       +0.69%   $12.34   62
 WTI crude      65.59   $0.04   +0.06%       -0.44%   $62.35   70
 Euro/dlr      $1.245  $0.001   +0.06%       +0.80%              
 USD/AUD       0.7747   0.000   +0.01%       +0.66%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential

 (Reporting by Colin Packham
Editing by Stephen Coates)
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