February 6, 2018 / 2:16 AM / 6 months ago

GRAINS-Soybean prices fall to 3-wk low as rain expected in key grower Argentina

    SYDNEY, Feb 6 (Reuters) - U.S. soybean prices fell for a
fifth session on Tuesday to hit a three-week low, with hopes
that rains forecast for Argentina could help limit damage to
drought-hit crops in one of the world's top producers of the
    * The most active soybean futures on the on the Chicago
Board of Trade were down 0.1 percent at $9.70-1/2 a bushel
by 0132 GMT, after earlier touching their lowest since Jan. 18
at $9.69 a bushel. They closed Monday down 0.9 percent.
    * The most active wheat futures were down 0.1 percent
at $4.40-1/2 a bushel. They ended down 1.5 percent on Monday,
when prices hit their weakest since Jan. 26 at $4.38-3/4 a
    * The most active corn futures were down 0.3 percent
at $3.57-3/4 a bushel, having closed down 0.8 percent in the
previous session.
    * Rains expected next week could contain drought-damage to
Argentine soy crops, the Buenos Aires Grains Exchange's weather
forecaster said on Monday, but added that the arid conditions
could dramatically reduce the harvest.
    * The U.S. Department of Agriculture reported export
inspections of U.S. corn in the latest week at 1.07 million
tonnes, slightly above a range of trade expectations.

    * Wheat prices came under pressure as favorable weather was
expected to aid U.S. crops that have suffered from recent dry
    * The dollar stood tall on Tuesday as a rout in global
equities prompted anxious investors to seek shelter in the
relative safety of the greenback, with peers like the euro on
the defensive.  
    * Crude oil futures extended falls from the previous session
on Tuesday, with the Brent benchmark dropping 1 percent.  
    * U.S. stocks plunged in highly volatile trading on Monday,
with both the S&P 500 and Dow Industrials indices slumping more
than 4 percent, as the Dow notched its biggest intraday decline
in history with a nearly 1,600-point drop and Wall Street erased
its gains for the year.  
0700  Germany             Industrial orders           Dec
1330  U.S.                International trade         Dec
 Grains prices at  0132 GMT
 Contract       Last  Change  Pct chg  Two-day chg   MA 30   RSI 
 CBOT wheat   440.50    0.25   +0.06%       -1.40%  433.02     51
 CBOT corn    357.75   -1.00   -0.28%       -1.04%  353.61     47
 CBOT soy     970.50    0.75   +0.08%       -0.84%  973.53     36
 CBOT rice     12.51  -$0.03   -0.20%       +0.36%  $12.10     71
 WTI crude     63.49  -$0.66   -1.03%       -2.99%  $63.14     40
 Euro/dlr     $1.238  $0.002   +0.12%       -0.63%               
 USD/AUD      0.7873   0.000   -0.05%       -0.59%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential

 (Reporting by Colin Packham
Editing by Joseph Radford)
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