CANBERRA, July 23 (Reuters) – U.S. wheat futures prolonged decline to a second session on Friday as traders booked revenue following final week’s rally, although considerations about international provides amid unfavourable climate in a number of key producing areas restricted losses.
FUNDAMENTALS
* Probably the most energetic wheat futures on the Chicago Board Of Commerce Wv1 had been down 0.4% at $6.89-1/Four a bushel by 0128 GMT, having closed down 2.6% on Thursday.
* Wheat is down greater than 0.5% for the week after closing up 12.6% final week.
* Probably the most energetic soybean futures Sv1 down almost 2.5% for the week after closing up almost 5% within the earlier week.
* Probably the most energetic corn futures Cv1 rise almost 2% for the week, their second straight week of positive factors.
* The U.S. Division of Agriculture (USDA) stated on Thursday morning that weekly export gross sales of corn totalled a web -40,700 tonnes, largely as a consequence of cancellations from China. The weekly whole was the bottom since July 2012 and the second smallest on document. EXP/CORN
* Soybeans within the U.S. Midwest sometimes attain their yield-determining part of pod setting throughout August.
* USDA’s weekly report confirmed soybean export gross sales totalled simply 238,400 tonnes, weighing on soy futures as abroad consumers search for cheaper alternate options.
MARKET NEWS
* The greenback edged increased general in uneven buying and selling on Thursday, shifting with the ebbs and flows of danger sentiment, whereas the euro fell as traders digested the European Central Financial institution assertion and feedback by its president. USD/
* Oil costs rose about $1.50 a barrel on Thursday, extending positive factors made within the earlier three periods on expectations of tighter provides via 2021 as economies recuperate from the coronavirus disaster. O/R
* Australian shares slipped on Friday from a document closing excessive scaled the day past, as strict restrictions in main cities dampened sentiment, whereas on line casino operator Crown Resorts slumped after Star Leisure withdrew its takeover bid.
(Reporting by Colin Packham; modifying by Vinay Dwivedi)
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