* Wheat falls after rallying more than 3 pct on Monday
* Corn edges lower, soybeans firm
By Colin Packham
SYDNEY, Nov 13 U.S. wheat futures edged lower on
Tuesday retreating from a three-week high touched in the
previous session, but concerns over global production amid
adverse weather in several major exporting countries capped the
Corn fell too following the lead of wheat, while soybeans
The most active wheat futures on the Chicago Board Of Trade
were down 0.4 percent at $5.17-3/4 a bushel, as of 0344
GMT. In the previous session, wheat futures closed 3.3 percent
firmer, when prices hit $5.20-3/4 a bushel, the highest since
Traders and analysts said wheat had drawn strong support
amid expectations for an upturn in demand for U.S. supplies and
fears over the crop in Argentina, though many said this was
"The market is discussing the less-than-ideal conditions for
2019 winter crops in several parts of the world," said Tobin
Gorey, director of agricultural strategy, Commonwealth Bank of
"Plenty of things need to keep going wrong before people cut
their crop estimates," he added.
The most active corn futures slipped 0.3 percent to
$3.70-1/4 a bushel, after ending 0.4 percent higher in the
The most active soybean futures were up 0.3 percent at
$8.85-3/4 a bushel, having closed down 0.5 percent on Monday.
Soybeans remained mixed as traders mull the U.S. Department
of Agriculture's Nov. 8 forecast for U.S. soybean stocks to rise
to 955 million bushels by the end of the 2018/19 marketing year
following a record-large harvest and as a trade fight with China
Grains prices at 0344 GMT
Contract Last Change Pct chg Two-day chg MA 30
CBOT wheat 517.75 -2.00 -0.38% +3.14% 510.76
CBOT corn 370.25 -1.00 -0.27% +0.14% 369.22
CBOT soy 885.75 2.50 +0.28% -0.11% 875.81
CBOT rice 10.65 $0.00 +0.00% +0.14% $10.87
WTI crude 59.22 -$0.71 -1.18% -1.61% $67.69
Euro/dlr $1.125 $0.003 +0.25% -0.79%
USD/AUD 0.7207 0.004 +0.49% -0.24%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential
(Reporting by Colin Packham; Editing by Rashmi Aich)
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on Thursday as the market nervously awaited the latest U.S.
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