GRAINS-U.S. wheat to multiyear lows on strong dollar, crop ratings

martes 1 de marzo de 2016 18:38 GYT
 

* U.S. wheat ratings better than year-ago in key states

* CBOT May soy dips to lowest level since Jan. 6

* CBOT May corn hits lowest since Jan. 12 (Updates with closing prices)

By Julie Ingwersen

CHICAGO, March 1 (Reuters) - U.S. wheat futures fell to multi-year lows on Tuesday, pressured by strength in the dollar and better crop conditions than last year in the Plains, analysts said.

Soybean and corn futures declined for a sixth straight session, with the most-active May contracts in both markets falling to multi-week lows.

At the Chicago Board of Trade, May wheat settled down 7-1/4 cents at $4.46 per bushel after dipping to $4.45-1/2, a contract low and the lowest price for a most-active contract since June 2010.

Fundamentally, global wheat ending stocks for 2015/16 are projected to reach an all-time high, the U.S. Department of Agriculture has said, while U.S. wheat exports are forecast at a 44-year low.

A strong dollar has made U.S. grains less attractive to those holding other currencies. The dollar set a one-month high against the euro after U.S. manufacturing data appeared to stabilize in February.   Continuación...