December 24, 2018 / 3:53 AM / 4 months ago

GRAINS-Wheat ticks up after deep losses, trades near 3-week low

    * Wheat gains 0.5 percent after falling 2 pct on Friday
    * Higher wheat exports from Russia add pressure on prices
    * Soybeans down for 4th session on Brazilian crop prospects

 (Adds details, updates prices)
    SINGAPORE, Dec 24 (Reuters) - Chicago wheat gained ground on
Monday, recouping some of last session's deep losses, although
the market was trading close to its weakest in nearly three
weeks on easing concerns over export curbs by top supplier
Russia.
    Soybeans eased for a fourth consecutive session on pressure
from expectations of another year of bumper production in
Brazil.
    The Chicago Board of Trade most-active wheat contract
rose 0.5 percent to $5.16-3/4 a bushel by 0334 GMT after hitting
at its weakest since Dec. 6 at $5.11-3/4 a bushel.
    Soybeans lost 0.3 percent to $8.82-1/2 a bushel and
corn was down 0.1 percent at $3.78 a bushel.
    Russia's agriculture ministry lifted its forecast for
2018-19 wheat exports by 2 million tonnes to 37 million tonnes,
a move interpreted by traders as another sign that the risk of
export restrictions is easing.
    Soybean prices are coming under pressure on expectations of
a record crop in Brazil, the world's top exporter. 
    China may purchase another 2 million tonnes of U.S. soybeans
in coming days after booking more than 3 million tonnes over the
past two weeks.

 Grains prices at  0334 GMT
 Contract    Last    Change  Pct chg  Two-day chg  MA 30   RSI
 CBOT wheat  516.75  2.75    +0.54%   -1.29%       518.59  44
 CBOT corn   378.00  -0.50   -0.13%   +0.73%       378.79  52
 CBOT soy    882.50  -2.25   -0.25%   -1.23%       894.59  31
 CBOT rice   10.80   $0.17   +1.55%   +2.61%       $10.73  59
 WTI crude   46.05   $0.46   +1.01%   +0.37%       $51.92  
 Currencies                                                
 Euro/dlr    $1.139  $0.002  +0.18%   -0.50%               
 USD/AUD     0.7058  0.003   +0.37%   -0.72%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per
 hundredweight
 RSI 14, exponential
    

 (Reporting by Naveen Thukral; editing by Richard Pullin)
  
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