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332569

Soybeans firm, corn flat with crop weather in focus

By Gus Trompiz and Naveen Thukral

PARIS/SINGAPORE, Aug 22 (Reuters) - Chicago soybeans edged up on Monday and corn was flat as the market assessed chances for more beneficial rain in the Midwest this week, while awaiting results from a grain industry field tour. Wheat also ticked higher, recovering further from a six-month low struck last week.

Crude oil steadied after an earlier slide also lent support to grain markets, although a firm dollar and continuing shipments from Ukraine under a wartime agreement helped limit gains.

The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.5% at $14.11-1/4 a bushel by 1058 GMT, while CBOT corn was unchanged on the day at $6.23-1/4 a bushel.

"Weather continues to drive the corn and soybean market," consultancy Agritel said.

After some beneficial showers in recent days, traders are monitoring forecasts to see if a dry start to this week is followed by rain in parched western zones of the U.S. Midwest. Grain markets were cautious ahead of weekly U.S. Department of Agriculture crop ratings due after Monday's market close, and yield projections this week from the widely followed Pro Farmer tour of corn and soy fields.

CBOT wheat was up 0.2% at $7.72-1/4 a bushel. A steady flow of grain vessels from Ukraine under a safe-passage agreement, along with falling prices for what is expected to be a record Russian wheat harvest, was keeping a lid on wheat and corn prices. However, trader talk about renewed interest from China in imported wheat after last week's price fall and uncertainty over upcoming planting in Ukraine helped underpin futures. A third of Ukrainian farmers will refuse 2022/23 winter grain sowing because of a lack of funds, a deputy chair of the Ukrainian Agrarian Council said on Monday.

Prices at 1058 GMT Last Change Pct End Ytd Pct Move 2021 Move CBOT wheat 772.25 1.25 0.16 770.75 0.19 CBOT corn 623.25 0.00 0.00 593.25 5.06 CBOT soy 1411.25 7.25 0.52 1339.25 5.38 Paris wheat 318.75 3.75 1.19 276.75 15.18 Paris maize 310.50 -0.25 -0.08 226.00 37.39 Paris rape 610.25 8.75 1.45 754.00 -19.06 WTI crude oil 91.05 0.28 0.31 75.21 21.06 Euro/dlr 1.00 0.00 -0.25 1.1368 -11.95 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 Subhranshu Sahu, Rashmi Aich and Shailesh Kuber)

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