CANBERRA, Might 26 (Reuters) – U.S. corn futures edged greater on Wednesday, rebounding from a one-month low touched within the earlier session, though positive aspects had been checked by easing considerations about international provides.
FUNDAMENTALS
* Essentially the most energetic corn futures on the Chicago Board Of Commerce Cv1 had been up 0.4% at $6.23-3/Four a bushel by 0201 GMT, having closed 5.6% decrease within the earlier session when costs hit an April 22 low of $6.17-1/Four a bushel.
* Essentially the most energetic soybean futures Sv1 had been little modified at $15.12 a bushel, having closed down 0.7% within the earlier session.
* Essentially the most-active wheat futures Wv1 had been down 0.5% at $6.53-1/Four a bushel, having closed 0.9% decrease within the earlier session when costs hit an April 15 low of $6.46-3/Four a bushel.
* The U.S. Division of Agriculture (USDA) stated farmers had planted 90% of supposed corn acres as of Sunday, above the five-year common of 80% and just under a median estimate of 91% in a pre-report Reuters ballot.
* Brisk planting, coupled with common rain within the U.S. Midwest, has taken consideration away from international provide tensions, though cool spring temperatures have raised some query marks.
* U.S. soybean planting remained forward of the typical tempo of current years, though it was a contact under analyst expectations, the USDA information confirmed.
MARKET NEWS
* The greenback wallowed close to its weakest since early January towards main friends on Wednesday, as Treasury yields eased amid Federal Reserve insistence that stimulus will proceed regardless of present inflationary pressures. USD/
* Oil costs had been regular on Wednesday as considerations a potential resumption in Iranian provide would trigger a glut had been offset by hopes for stronger U.S. gasoline demand after a drop in weekly stock estimates by the American Petroleum Institute. O/R
* World fairness markets made positive aspects whereas the U.S. greenback hit new lows towards main currencies on Tuesday after Federal Reserve officers reaffirmed a dovish financial coverage stance that eased inflation considerations.
(Reporting by Colin Packham; Modifying by Ramakrishnan M.)
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