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GRAINS-Grain prices stuck as market focuses on weather reports
* CBOT corn, wheat, soy little changed in overnight session
* Traders assess U.S. harvest rain, yield reports
* Weather also in focus for South America planting
* Wheat lower this week as global supplies cap prices
(Updates with European trading, changes byline/dateline)
By Gus Trompiz and Naveen Thukral
PARIS/SINGAPORE, Oct 6 (Reuters) - Chicago corn, wheat and soybean futures
were little changed on Friday as investors assessed shifting U.S. and South
The Chicago Board of Trade most-active corn contract was down 0.1
percent at $3.49-3/4 a bushel ahead of the resumption of trading for the U.S.
day session. Wheat was unchanged on the day at $4.40-3/4 a bushel, while
soybeans down 0.1 percent at $9.67-1/4 a bushel.
Rain has slowed harvesting of corn and soybeans in parts of the U.S.
Midwest, adding a measure of uncertainty even as crop observers have raised
their yield forecasts.
"Periodic rain events throughout next two weeks keep Central Midwest
corn/soy harvest slowest at times," the Commodity Weather Group said in a note,
adding that Midwest harvest delays should be limited.
Traders are also tracking weather patterns in South America as corn and
soybean planting gets under way, with dry conditions in Brazil and excess
moisture in Argentina causing some concern.
Wheat markets have also found some support from adverse weather in Argentina
and Australia ahead of local harvests.
Half of Argentina's 5.4 million hectares planted with wheat for the 2017/18
season are affected by excessively moist conditions, the Buenos Aires grains
exchange said on Thursday.
But wheat prices remained capped by a backdrop of large global supplies.
"There no issue with wheat supplies as the Russian crop is at a record
high," said one India-based agricultural commodities analyst.
"From here the downside is also limited as U.S. farmers are expected to
further reduce planted area but at the same time there is no catalyst to boost
Commodity funds were net buyers of CBOT corn, soybean and soymeal futures
contracts on Thursday and net sellers of soyoil and wheat, traders said.
Prices at 1300 GMT
Last Change Pct End Ytd Pct
Move 2016 Move
CBOT wheat 440.75 0.00 0.00 408.00 8.03
CBOT corn 349.75 0.25 0.07 352.00 -0.64
CBOT soy 967.25 -1.00 -0.10 1004.00 -3.66
Paris wheat Dec 165.50 -0.50 -0.30 175.00 -5.43
Paris maize Nov 154.75 0.00 0.00 170.00 -8.97
Paris rape Nov 368.75 -1.25 -0.34 383.25 -3.78
WTI crude oil 49.62 -1.17 -2.30 53.72 -7.63
Euro/dlr 1.17 0.00 -0.13
Most active contracts - Wheat, corn and soy US cents/bushel, Paris
futures in euros per tonne
(Reporting by Naveen Thukral in Singapore and Gus Trompiz in Paris; Editing by
Tom Hogue and Alexander Smith)
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