CANBERRA, June 15 (Reuters) – U.S. corn futures edged increased on Tuesday, rebounding from a close to two-week low touched within the earlier session, after the U.S. Division of Agriculture pegged the situation of crop under market expectations.
FUNDAMENTALS
* Probably the most-active corn futures on the Chicago Board Of Commerce Cv1 have been up 0.2% at $6.61-1/Four a bushel, as of 0134 GMT, having closed down 3.7% within the earlier session, when costs hit a June Three low of $6.53 a bushel.
* Probably the most-active soybean futures Sv1 have been up 0.2% at $14.75 a bushel, having closed down 2.4% on Monday, when costs hit an April 21 low of $14.55 a bushel.
* Probably the most-active wheat futures Wv1 have been down 0.8% to $6.69-3/Four a bushel, having closed down 0.9% on Monday.
* The USDA rated 68% of the U.S. corn crop pretty much as good to wonderful, down Four share factors from the earlier week.
* The USDA rated 62% of the soy crop pretty much as good to wonderful, down 5 share factors.
* Analysts on common had anticipated a scores decline of solely Three factors for corn and a pair of factors for soybeans.
* The climate outlook for the U.S. Midwest sees cooler temperatures and rains late this week, aiding crops.
* The U.S. winter wheat harvest is off to a gradual begin. The USDA stated 4% of the crop had been minimize by Sunday, behind the typical analyst estimate of 10%.
MARKET NEWS
* The greenback hovered under a one-month excessive in contrast with main friends on Tuesday forward of a much-anticipated Federal Reserve assembly that would sign a change within the outlook for U.S. financial coverage. USD/
* Oil costs ended principally unchanged on Monday, after hitting their highest ranges in additional than two years, as rising U.S. crude manufacturing and Britain’s delayed COVID-19 reopening dampened expectations for gasoline demand development and tighter provides. O/R
* World inventory markets have been blended whereas U.S. Treasury yields ticked up on Monday, as buyers waited for the outcomes of a Federal Reserve coverage assembly earlier than making any main new bets.
(Reporting by Colin Packham; Modifying by Subhranshu Sahu)
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