By Gus Trompiz and Naveen Thukral
PARIS/SINGAPORE, Jan 12 (Reuters) – Chicago soybean and corn futures inched lower on Wednesday as traders adjusted positions before closely watched U.S. government crop data while assessing chances for rain relief in parched South American growing belts.
Wheat also ticked down.
The Chicago Board of Trade’s (CBOT) most-active soybean contract Sv1 was down 0.5% at $13.80-1/4 a bushel by 1054 GMT.
CBOT corn Cv1 edged down 0.3% to $5.99-1/2 a bushel, consolidating around the psychological $6 threshold.
Hot, dry conditions in southern Brazil and Argentina have raised doubts about harvest prospects, although weather charts showing rainfall from the end of this week have tempered crop concerns.
Brazilian food supply and statistics agency Conab on Tuesday lowered its 2021/2022 forecast for the country’s soybean and corn production, and attention is now on the U.S. Department of Agriculture’s (USDA) supply and demand estimates at 1700 GMT, which will include updated forecasts for South America. USDA/EST
The USDA will at the same time release quarterly estimates of U.S. grain stocks and a projection of U.S. wheat sowings.
CBOT Wv1 fell 0.5% to $7.66-3/4 a bushel.
Wheat futures had risen on Tuesday as renewed demand from importers helped prices pull away from 2-1/2 month lows struck last week. GRA/TEND
However, farm office FranceAgriMer on Wednesday lowered its monthly of French soft wheat exports in 2021/22.
Prices at 1054 GMT
Last
Change
Pct Move
End 2021
Ytd Pct Move
CBOT wheat Wv1
766.75
-3.50
-0.45
770.75
-0.52
CBOT corn Cv1
599.50
-1.50
-0.25
593.25
1.05
CBOT soy Sv1
1380.25
-6.25
-0.45
1339.25
3.06
Paris wheat BL2c1
275.75
-1.00
-0.36
278.50
-0.99
Paris maize EMAc1
244.50
-0.25
-0.10
226.00
8.19
Paris rape COMc1
793.25
-1.75
-0.22
754.00
5.21
WTI crude oil CLc1
81.50
0.28
0.34
75.21
8.36
Euro/dlr EUR=
1.14
0.00
-0.04
1.1368
-0.08
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 Sherry Jacob-Phillips, Kirsten Donovan)
(([email protected]; +65-6870-3829; Reuters Messaging: [email protected]; +33 1 49 49 52 18; Reuters Messaging: [email protected]@reuters.net))
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