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IKAR in Mass MediaGRAINS-Soybeans edge higher from six-week low30 августа 2018 года SYDNEY, Aug 29 (Reuters) - U.S. soybean futures edged higher on Wednesday, recovering from a six-week low touched in the previous session, although expectations of ample global supplies weighed on the market. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of Trade were up 0.2 percent at $8.35 a bushel as of 0101 GMT, having closed down 1.8 percent on Tuesday when prices hit a low of $8.33 a bushel - the lowest since July 16. * The most active corn futures were unchanged at $3.56-1/4 a bushel, having closed down 1.5 percent in the previous session when prices hit a low of $3.56 a bushel - the lowest since July 16. * The most active wheat futures were little changed at $5.23-1/2 a bushel, having closed nearly flat on Tuesday. * Soy was under pressure from expectations of bumper U.S. supplies as trade disputes with top buyer China have clouded export prospects. * The Pro Farmer advisory service last week projected 2018 U.S. soybean production at a record 4.683 billion bushels, topping the U.S. Department of Agriculture's forecast for 4.586 billion bushels. * Pro Farmer also projected U.S. corn yield of 177.3 bushels per acre, below the USDA's forecast of 178.4 but still a record high, if realised. * Russian consultancy IKAR lowered its estimate of Russia's 2018 wheat harvest to 69.6 million tonnes from 70.8 million tonnes previously. The firm left its Russian wheat export estimate unchanged at 32.5 million tonnes. MARKET NEWS * The dollar slid to a new four-week low on Tuesday, as the U.S.-Mexico trade deal aimed at overhauling the North American Free Trade Agreement prompted investors to unwind more of their safe-haven bets on the greenback, boosting appetite for higher-risk assets. * Oil markets were stable on Wednesday, buoyed by falling supplies from Iran ahead of U.S. sanctions but held in check by rising production outside the Organization of the Petroleum Exporting Countries. * The S&P 500 and the Nasdaq edged up to record closing highs for the third consecutive session as investors struggled over whether to take profits following a rally on positive developments in trade disputes which have vexed the markets. DATA AHEAD (GMT) 0600 Germany GfK consumer sentiment Sep 0645 France Consumer spending Jul 0645 France Detailed GDP Q2 1230 U.S. GDP 2nd estimate Q2 1400 U.S. Pending homes sales Jul Grains prices at 0101 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 523.50 0.25 +0.05% +0.19% 556.68 27 CBOT corn 356.25 0.00 +0.00% -1.45% 373.84 23 CBOT soy 835.00 1.75 +0.21% -1.56% 878.96 27 CBOT rice 10.71 $0.02 +0.19% +1.90% $11.12 46 WTI crude 68.55 $0.02 +0.03% -0.46% $68.08 60 Currencies Euro/dlr $1.169 -$0.001 -0.07% +0.07% USD/AUD 0.7342 0.001 +0.07% -0.11% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential Source: Reuters | #grain | Comments: 0 Views: 90
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