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GRAINS-Corn, soybeans ease on benign U.S. weather, wheat stays firm

* U.S. weather shows limited risks for corn, soy crops * Market awaits further Chinese imports of U.S. soybeans * Wheat extends rebound on overseas demand (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Sept 27 (Reuters) - Chicago corn and soybean futures edged lower on Friday as weather forecasts showed limited risks to Midwest crops ahead of harvesting, while wheat extended a technical bounce supported by international demand. Traders were waiting to see if further Chinese purchases of U.S. soybeans would be confirmed while attention was also shifting towards closely followed U.S. grains stocks data to be released on Monday. The most-active soybean contract on the Chicago Board Of Trade was down 0.1% at $8.87-1/2 a bushel, as of 1214 GMT. CBOT corn was trading down 0.3% at $3.71-1/4 a bushel. As U.S. corn harvesting gets going and the soybean harvest approaches, weather forecasts suggested limited cold weather risks. "Frost in Northern Plains next week (is) more limited, keeping (the) threat low for corn/soy not fully mature," the Commodity Weather Group said in a note, adding the frost risk the following week appeared minimal. Elsewhere, showers might delay harvest work but were not expected to damage crops and could also help growth of late-developing fields, it said. Grain markets have been grappling in particular with the size of this year's U.S. corn harvest after exceptionally late planting during a soggy spring. U.S. farmers have harvested 7% of the corn crop compared with the average pace of 11%, the U.S. Department of Agriculture (USDA) said on Monday. The soybean market was consolidating after a week marked by a run of Chinese purchases seen as part of efforts to revive negotiations over a year-old trade dispute between Washington and Beijing. "Chinese buying is the main theme in the market which is supporting prices," said one Singapore-based trader. "But we don't see much upside as African swine fever is limiting demand." In a latest reported sale, the U.S. Department of Agriculture through its daily reporting system said on Thursday that private exporters sold 257,000 tonnes of U.S. soybeans to China for delivery in the 2019/20 marketing year. CBOT wheat was 0.9% higher at $4.88-1/2 a bushel, continuing Thursday's rebound that had followed a five-session falling streak. Chicago prices drew support from Paris futures which touched a six-week high amid a flurry of tenders by importing countries. The threat of drought reducing upcoming harvests in Australia and Argentina have also underpinned wheat markets and taken the focus away from big northern hemisphere crops. Prices at 1214 GMT Last Change Pct End Ytd Pct Move 2018 Move CBOT wheat 488.50 4.25 0.88 503.25 -2.93 CBOT corn 371.25 -1.25 -0.34 375.00 -1.00 CBOT soy 887.50 -1.00 -0.11 895.00 -0.84 Paris wheat Dec 174.00 1.00 0.58 191.25 -9.02 Paris maize Nov 163.25 0.00 0.00 175.25 -6.85 Paris rape Nov 386.75 -0.50 -0.13 364.00 6.25 WTI crude oil 55.92 -0.49 -0.87 45.41 23.14 Euro/dlr 1.09 0.00 0.12 1.1469 -4.66 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne (Reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore, Editing by Sherry Jacob-Phillips and Emelia Sithole-Matarise)

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