SINGAPORE, July 22 (Reuters) – Chicago wheat futures retreated on Thursday after six straight periods of good points, though losses have been restricted by issues over dry climate curbing yields in high exporters Russia and america.
Corn and soybeans slid in early Asian commerce.
FUNDAMENTALS
* Essentially the most-active wheat contract on the Chicago Board of Commerce (CBOT) Wv1 fell 0.7% to $7.05-3/four a bushel, as of 0019 GMT. Corn Cv1 misplaced 0.8% to $5.64-1/four a bushel and soybeans Sv1 gave up 0.6% to $13.81-3/four a bushel.
* The wheat market is being underpinned by crop issues in North America and the Black Sea area.
* Russia’s agriculture ministry mentioned yields from the harvest of the nation’s wheat crop averaged 3.45 tonnes per hectare as of July 20, down from 3.47 tonnes per hectare a 12 months earlier.
* Commodity funds have been internet consumers of CBOT corn, wheat and soymeal contracts on Wednesday, merchants mentioned. They have been internet sellers of soyoil and even in soybeans. COMFUND/CBT
MARKET NEWS
* Markets continued their upward march on Wednesday and yields climbed due partly to optimistic company earnings, regardless of apprehension in regards to the Delta coronavirus variant and inflation, which spurred a flight to security earlier within the week. MKTS/GLOB
DATA/EVENTS (GMT)
0645 France Enterprise Local weather Mfg July
1145 EU ECB Refinance Price July
1145 EU ECB Deposit Price July
1230 US Preliminary Jobless Clm Weekly
1400 US Present Residence Gross sales June
1400 EU Shopper Confid. Flash July
(Reporting by Naveen Thukral; Enhancing by Subhranshu Sahu)
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