BEIJING, Dec 22 (Reuters) – Chicago soybeans extended gains to a seventh day of trade on Wednesday, scaling a more than three-month high, over production concerns due to dry weather in South America’s crop growing areas.
Corn was trading flat while wheat was slightly down.
FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.4% at $13.13-1/2 per bushel around 0150 GMT on Tuesday. Corn Cv1 was trading flat at $5.98 a bushel. Wheat Wv1 was down 0.03% at $7.99 a bushel.
* European Union soybean imports in 2021/22 reached 5.97 million tonnes while soft wheat exports reached 13.36 million tonnes by Dec. 19, according to data published on Tuesday by the European Commission, which said that figures for France were incomplete.
* Iranian state agency the Government Trading Corporation has issued another international tender to purchase about 180,000 tonnes of milling wheat, European traders said on Tuesday.
* Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 60,000 tonnes of animal feed barley, 60,000 tonnes of feed corn and 60,000 tonnes of soymeal, European traders said on Tuesday.
* Turkey’s state grain board, TMO, has purchased 320,000 tonnes of milling wheat in an international tender that closed on Tuesday, traders said.
* Commodity funds were net buyers of Chicago Board of Trade corn, wheat, soybean, soymeal and soyoil futures contracts on Tuesday, traders said. COMFUND/CBT
MARKET NEWS
* The dollar edged down again in early Asia trading on Wednesday, starting a third successive session under pressure as investors favoured riskier currencies and asset classes. USD/
* Asian stock markets were gaining ground on Wednesday as the risk appetite of global investors rises heading into year-end, despite the surging number of Omicron variant cases around the world. MKTS/GLOB
DATA/EVENTS (GMT)
0700 UK GDP QQ YY Q3
1330 US GDP Final Q3
1500 US Consumer Confidence Dec
1500 US Existing Home Sales Nov
(Reporting by Emily Chow; Editing by Vinay Dwivedi)
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