GRAINS-Prices edge up on U.S. weather worries before USDA report

martes 8 de marzo de 2016 13:52 GYT
 

* Warm weather in U.S. Plains raises worries for wheat crop

* Traders await USDA crop data due out Wednesday

* Exporters sells U.S. soybeans to China, unknown destinations (Updates with U.S. trading, changes byline, dateline from HAMBURG/SYDNEY)

By Tom Polansek

CHICAGO, March 8 (Reuters) - U.S. grain futures rose on Tuesday on concerns that unfavourable crop weather could threaten domestic production, as the markets temporarily shook off the weight of massive global inventories.

Above-normal temperatures in recent weeks have brought the U.S. hard red winter wheat crop, grown in the Great Plains, out of dormancy earlier than normal, leaving the crop vulnerable to damage if a late-spring freeze hits the region.

Some corn and soybean traders also were worrying about the weather, even though those crops will not be planted for weeks.

"Corn bulls are keeping an eye on U.S. weather as many inside the trade start to worry about pockets of dry conditions in the southwest Plains and problems with too much rainfall and flooding in parts of the Delta," said Kevin Van Trump, president of Missouri-based consultancy Farm Direction.

The Chicago Board of Trade's most actively traded May corn contract was up 0.6 percent to $3.61-1/4 a bushel by 11:40 a.m. CST (1740 GMT) after reaching its highest price since Feb. 25.   Continuación...