November 26, 2018 / 2:53 AM / 17 days ago

GRAINS-Wheat futures jump nearly 1 pct on U.S. export deal

    SYDNEY, Nov 26 (Reuters) - U.S. wheat futures jumped nearly 1 percent on Monday as increased demand for North American supplies pushed prices
towards a nearly 10-day high.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of Trade were up 0.8 percent at $5.11-1/4 a bushel, as of 0238 GMT. In the previous
session, it closed 0.1 percent firmer, when prices hit a high of $5.16 a bushel - the highest since Nov 13. 
    * The most active corn futures were unchanged at $3.59 a bushel, having closed down 0.8 percent on Friday.
    * The most active soybean futures were unchanged at $8.81 a bushel, having closed down 0.2 percent on Friday.
    * Egypt's state grain buyer, the General Authority for Supply Commodities, said it bought 240,000 tonnes of wheat in an international purchasing
tender on Thursday, with half of that coming from the United States.
    * Egypt also bought 60,000 tonnes of Russian wheat and 60,000 tonnes of Romanian wheat in the tender, which closed when U.S. markets were shut for
the Thanksgiving holiday. 
    * Soybeans under pressure amid fears of a prolonged trade war between the United States and China.
         
    MARKET NEWS  
    * The dollar rose versus its major peers on Monday, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and
U.S.-Sino trade tensions sapped risk appetite.  
    * Oil prices steadied on Monday after plunging nearly 8 percent in the previous session, but remain under pressure with Brent crude below $60 per
barrel amid weak fundamentals and struggling financial markets.  

    DATA/EVENT AHEAD (GMT)
0900  Germany        Ifo business climate                Nov
1330  U.S.           National activity index             Oct
1400  European Central Bank President Mario Draghi addresses the European Parliament
1530  U.S.           Dallas Fed manufacturing index      Nov
        
 Grains prices at 0237 GMT
 Contract          Last   Change    Pct chg   Two-day chg   MA 30
 CBOT wheat      511.25     4.00     +0.79%        +0.89%  514.76
 CBOT corn       359.00     0.00     +0.00%        -0.76%  367.93
 CBOT soy        881.00     0.00     +0.00%        -0.23%  877.55
 CBOT rice        10.76    $0.00     +0.00%        +0.23%  $10.84
 WTI crude        50.75    $0.33     +0.65%        -7.10%  $62.42
 Currencies                                                      
 Euro/dlr        $1.133  -$0.001     -0.11%        -0.69%        
 USD/AUD         0.7234    0.000     +0.00%        -0.28%        
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham, Editing by Sherry Jacob-Phillips)
  
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