CANBERRA, Aug 11 (Reuters) – U.S. wheat futures edged decrease on Wednesday, retreating from a close to one-week excessive touched within the earlier session, though issues about world provides supplied a flooring to losses.
FUNDAMENTALS
* Probably the most-active wheat futures on the Chicago Board of Commerce Wv1 fell 0.6% to $7.22-1/2 a bushel by 0104 GMT. The contract had closed up 2.2% on Tuesday when costs hit a Aug four excessive of $7.30 a bushel.
* Soybean futures Sv1 had been down 0.1% at $13.35-1/2 a bushel, having firmed 0.5% on Tuesday.
* Corn futures Cv1 slid 0.2% to $5.54-1/four a bushel.
* Wheat, nonetheless, obtained some assist on worries about tightening world provides after rain affected the milling high quality of the French harvest and costs rose in prime exporter Russia.
* The U.S. Division of Agriculture is about to launch up to date month-to-month provide/demand studies on Thursday, and analysts surveyed by Reuters on common anticipate the company to decrease its forecasts of 2021/22 U.S. and world wheat ending shares.
* The USDA confirmed personal gross sales of 132,000 tonnes of U.S. soybeans to China and one other 130,000 tonnes to unknown locations, the most recent in a flurry of latest U.S. soy gross sales.
* The USDA late on Monday rated 64% of the U.S. corn crop in good to glorious situation, up 2 share factors from the earlier week, whereas most analysts had anticipated no change.
MARKET NEWS
* The U.S. greenback edged up on Tuesday, touching a greater than four-month excessive in opposition to the euro, as traders speculated additional over whether or not latest robust jobs information might push the Federal Reserve to quickly begin tapering its bond-buying program. USD/
(Reporting by Colin Packham; enhancing by Uttaresh.V)
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