CANBERRA, Aug 23 (Reuters) – U.S. soybean futures rose almost 1% on Monday to rebound from a close to two-month low, although expectations of larger provides and issues about demand for U.S. provides saved a lid on beneficial properties.
FUNDAMENTALS
* Essentially the most lively soybean futures on the Chicago Board Of Commerce Sv1 have been up 0.9% at $13.02 a bushel by 0137 GMT, having closed down 2.2% on Friday when costs hit a June 28 low of $12.77-1/Four a bushel.
* Essentially the most lively corn futures Cv1 have been up 0.2% at $5.38 a bushel, having closed down 2.5% within the earlier session when costs hit a July 26 low of $5.32-1/2 a bushel.
* Essentially the most lively wheat futures Wv1 have been up 0.4% at $7.31-1/2 a bushel, having closed down 2% on Friday.
* The U.S. Environmental Safety Company is anticipated to suggest to the White Home decreasing federal biofuel mixing mandates for 2021 to under 2020 ranges, two sources aware of the matter stated on Friday, in what can be a blow to the biofuels business.
* Useful rains this weekend within the Dakotas and surrounding U.S. crop areas assist crops which have struggled with months of drought.
* The Professional Farmer Midwest Crop Tour final week projected that U.S. farmers would harvest a corn crop of 15.116 billion bushels and a soybean crop of 4.436 billion bushels, each bigger than the U.S. Division of Agriculture’s newest estimates.
MARKET NEWS
* The safe-haven greenback traded close to its highest in additional than 9 months towards main friends, whereas commodity currencies just like the Aussie languished amid worries that the Delta coronavirus variant might derail the worldwide financial restoration. USD/
* Asian share markets have been making an attempt to select up the items following final week’s thrashing as coronavirus issues confirmed little signal of abating, whereas safe-haven flows benefited the greenback forward of a key replace on U.S. financial coverage.
(Reporting by Colin Packham; Modifying by Subhranshu Sahu)
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