September 6, 2018 / 12:53 AM / 18 days ago

GRAINS-Wheat firms for first time in three sessions

    SYDNEY, Sept 6 (Reuters) - U.S. wheat futures edged higher
for the first time in three sessions on Thursday, although gains
were checked as export prospects for North American supplies
were restrained by ample global supplies. 
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade rose 0.2 percent to $5.22-3/4 a bushel by 0031 GMT,
having closed down 1.8 percent on Wednesday. 
    * The most active soybean futures were up 0.2 percent
to $8.40 a bushel, after closing down 0.7 percent on Wednesday.
    * The most active corn futures were up 0.3 percent to
$3.66-1/4 a bushel, having closed down 0.8 percent in the
previous session.
    * The U.S. Department of Agriculture pegged 67 percent of
corn in good or excellent condition, below average analyst
expectations calling for an unchanged 68 percent.

    * Egypt's state grains buyer, the General Authority for
Supply Commodities bought 60,000 tonnes of Russian wheat in an
international purchase tender. No U.S. wheat had been offered in
the tender.
         
    MARKET NEWS  
    * The dollar retreated modestly against a basket of major
currencies on Wednesday as sterling and the euro rose following
a Bloomberg report that the German and British governments had
abandoned key Brexit demands, potentially easing the path for a
divorce deal.  
    * Oil prices fell more than one percent on Wednesday after a
U.S. Gulf storm weakened and moved away from oil-producing areas
and as concerns mounted about global trade disputes and Turkey's
currency crisis hurting demand.  
    * The Nasdaq fell more than 1 percent on Wednesday, dented
by technology stocks after Facebook Inc and Twitter Inc
 executives defended their companies before skeptical
U.S. lawmakers.  
        
 Grains prices at  0031 GMT
 Contract          Last    Change   Pct chg   Two-day chg   MA 30
 CBOT wheat      522.75      1.00    +0.19%        -1.65%  556.32
 CBOT corn       366.25      1.00    +0.27%        -0.54%  373.08
 CBOT soy        840.00      2.00    +0.24%        -0.50%  874.30
 CBOT rice        10.86     $0.05    +0.46%        +0.23%  $10.97
 WTI crude        68.51    -$0.21    -0.31%        -1.95%  $68.16
 Currencies                                                      
 Euro/dlr        $1.165    $0.002    +0.14%        +0.55%        
 USD/AUD         0.7199     0.001    +0.14%        +0.31%        
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; editing by Richard Pullin)
  
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