CANBERRA, Oct 20 (Reuters) – U.S. soybean futures edged lower on Wednesday after four straight sessions of gains, though strong demand for U.S. supplies kept prices near a one-week high.
FUNDAMENTALS
* The most active soybean futures on the Chicago Board Of Trade Sv1 were down 0.1% at $12.27 a bushel by 0057 GMT, having firmed 0.5% on Tuesday when prices hit an Oct. 11 high of $12.39-1/4 a bushel.
* The most active corn futures Cv1 were down 0.1% at $5.29-1/2 a bushel, having closed down 0.5% in the previous session.
* The most active wheat futures Wv1 were up 0.3% at $7.38 a bushel, having closed little changed in the previous session.
* The U.S. soybean harvest was 60% complete by Sunday, ahead of the five-year national average of 55%, the U.S. Department of Agriculture (USDA) said. But progress was slower than normal in Illinois, the top U.S. soy state, as well as in Indiana and Ohio.
* The U.S. corn crop was 52% harvested, the USDA said, ahead of the five-year average of 41% but behind the average analyst expectation of 54%.
* Ukrainian farms have harvested 52 million tonnes of grain from almost 73% of its sowing area, with the yield averaging 4.48 tonnes per hectare, the agriculture ministry said on Tuesday.
MARKET NEWS
* The dollar pared losses on Tuesday as Treasury yields climbed but remained lower on the day as other currencies, including sterling, were boosted by expectations of sooner-than-previously expected interest rate hikes. USD/
* Oil futures rose on Tuesday and were near multi-year highs as an energy supply crunch continued across the globe, while falling temperatures in China revived concerns over whether the world’s biggest energy consumer can meet domestic heating needs. O/R
* Stock indexes around the world jumped on Tuesday as U.S. technology shares extended recent gains and earnings reports were upbeat, while the To-year U.S. Treasury yield rose to its highest in more than four months. MKTS/GLOB
(Reporting by Colin Packham; Editing by Subhranshu Sahu)
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