CANBERRA, Aug 30 (Reuters) – U.S. wheat futures rose greater than 1% on Monday as issues about international provides had been stoked by manufacturing shortfalls in main producing areas.
FUNDAMENTALS
* Probably the most-active wheat futures on the Chicago Board of Commerce Wv1 had been up 1.2% to $7.41-1/four a bushel by 0125 GMT, having closed down 0.9% on Friday.
* Soybean futures Sv1 had been up 0.7% at $13.32-1/four a bushel, having firmed 0.2% on Friday.
* Corn futures Cv1 had been up 0.6% at $5.56-1/four a bushel, having gained 0.5% within the earlier session.
* The U.S. Division of Agriculture (USDA) on Friday confirmed 129,000 tonnes of U.S. soybeans offered to China and 150,000 tonnes of corn offered to Colombia.
* The U.S. Environmental Safety Company has really useful retroactively decreasing biofuel mixing mandates for 2020, two sources conversant in the matter stated, after the company on Thursday despatched a proposal on the mandates to the White Home for evaluation.
* Russian agriculture consultancy Sovecon minimize its wheat export forecast to the bottom in 5 years, due partially to a smaller crop.
MARKET NEWS
* The greenback was nursing losses on Monday and saved close to multi-week lows after Federal Reserve Chair Jerome Powell laid out a slower-than-expected path to fee hikes, whereas a storm lashing oilfields within the Gulf of Mexico lifted oil-exposed currencies. USD/
* Oil costs rose round 1% after a robust hurricane ploughed via the Gulf of Mexico, forcing shutdowns and evacuations of lots of of offshore oil platforms. O/R
* Asian shares began the week with positive factors and the greenback was not far off two-week lows after U.S. Federal Reserve Chairman Jerome Powell struck a extra dovish tone than some traders anticipated in long-awaited speech on Friday.
(Reporting by Colin Packham; enhancing by Uttaresh.V)
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