CANBERRA, Could 21 (Reuters) – U.S. corn futures edged decrease on Friday, however robust Chinese language demand and considerations about world provides stored the grain on monitor for a weekly achieve of extra 3%.
FUNDAMENTALS
* Probably the most-active corn futures on the Chicago Board Of Commerce Cv1 had been down 0.3% at $6.62-3/Four a bushel by 0049 GMT, after gaining 1% within the earlier session.
* Corn is up greater than 3% for the week, rebounding from losses of greater than 12% final week.
* Probably the most-active soybean futures Sv1 had been down greater than 3.5% for the week, their largest one-week loss since January.
* Probably the most-active wheat futures Wv1 had been down practically 4.5% for the week, the second straight weekly fall.
* Personal exporters reported the sale of 1.224 million tonnes of corn to China for supply within the 2021/22 advertising and marketing 12 months, the U.S. Agriculture Division (USDA) mentioned on Thursday.
* The federal government introduced corn sale to China for the sixth day in a row , with the deal topping 1 million tonnes on 5 of these days.
* The USDA additionally mentioned corn export gross sales totalled 4.339 million tonnes within the week ended Could 13, essentially the most in practically two months. EXP/CORN
* Consultancy Agroconsult slashed its forecast for Brazil’s upcoming second annual corn crop by 15% to 66.2 million tonnes on Wednesday afternoon.
* Scouts on an annual tour of Kansas wheat fields discovered file yield potential within the high U.S. winter wheat state’s crop following late-season rains.
MARKET NEWS
* The greenback retreated on Thursday, hovering close to a multi-month low as a risk-on rally drew traders away from the safe-haven foreign money, reversing Wednesday’s bounce. USD/
* Oil costs fell greater than 2% on Thursday, marking a 3rd day of losses, after diplomats mentioned progress was made towards a deal to raise U.S. sanctions on Iran, which may increase crude provide. O/R
* Inventory indexes rose across the globe on Thursday, with the S&P 500 climbing greater than 1% led by sharp positive factors in expertise shares, whereas U.S. Treasury yields fell after a weaker-than-expected U.S. enterprise exercise studying
(Reporting by Colin Packham; Modifying by Rashmi Aich)
((colin.packham@thomsonreuters.com; +61-2 9321 8161; Reuters Messaging: colin.packham.thomsonreuters.com@reuters.internet))
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