GRAINS-Soybeans advance ahead of USDA crop data

martes 12 de julio de 2016 11:30 GYT
 

* Soybean traders eye hot weather ahead in Midwest

* Wheat market watching Egypt tender for price sign (New throughout, updates prices and market activity to include U.S. trading, changes byline, dateline from PARIS/SINGAPORE)

By Tom Polansek

CHICAGO, July 12 (Reuters) - U.S. soybean futures rose advanced on Tuesday ahead of a monthly crop outlook from the U.S. government that may show increased export demand for the oilseed.

Corn and wheat futures slipped.

The U.S. Department of Agriculture is expected to raise its forecast for 2015/16 and 2016/17 U.S. corn ending stocks, while lowering its forecast for 2015/16 U.S. soybean stocks, according to analysts surveyed by Reuters.

While U.S. corn inventories are expected to balloon above 2 billion bushels by the end of the 2016/17 marketing year, soybean stocks should be tighter due to export demand from China and crop problems in South America.

"There's obviously a lot of speculation and debate surrounding the export estimates so pay close attention to the numbers," said Kevin Van Trump, chief executive of Missouri-based consultancy Farm Direction.

Chicago Board of Trade November soybean futures, the most active contract , rose 11 cents to $10.66 a bushel by 10:10 CDT (1510 GMT).   Continuación...