January 16, 2019 / 1:41 AM / a month ago

GRAINS-Soybeans edge higher, rebound from two-week low

    SYDNEY, Jan 16 (Reuters) - U.S. soybean futures edged higher
on Wednesday, rebounding from a two-week low in the previous
session, although gains were checked amid concerns that talks to
ease a Sino-U.S. trade war will break without a meaningful deal.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade rose 0.4 percent to $8.97 a bushel by 0121 GMT,
having closed down 1.1 percent on Tuesday when prices hit a
$8.93 a bushel - the lowest since Jan. 2.
    * The most active corn futures were up 0.5 percent at
$3.73-1/4 a bushel, having closed down 1.9 percent in the
previous session when prices hit a low of $3.71 a bushel - the
lowest since Nov. 28, 2018.
    * The most active wheat futures were up 0.3 percent
at$5.12-1/2 a bushel, having closed down 0.6 percent on Tuesday
when prices hit a of low of $5.08 a bushel - the lowest since
Jan 3. 
    * U.S. Trade Representative Robert Lighthizer did not see
any progress made on structural issues in trade talks between
Washington and Beijing last week, Senator Chuck Grassley said.

    * Although China has booked about 5 million tonnes of U.S.
soybean purchases since a 90-day trade war truce was agreed to
on Dec. 1, there have been few details of further progress in
the talks. The two sides are trying to reach a deal that avoids
a scheduled March 2 escalation of U.S. tariffs on Chinese goods.
    * Dry weather in Brazil and Argentina added support to
soybean prices.
    * The National Oilseed Processors Association on Tuesday
said last month's soybean crushings topped the average trade
estimate at 171.759 million bushels, the third highest monthly
crush on record and the most ever for the final month of the
year.
         
    MARKET NEWS  
    * The pound steadied early on Wednesday following a volatile
overnight session after British lawmakers defeated Prime
Minister Theresa May's Brexit divorce deal by a crushing margin.
  
    * U.S. oil prices inched lower on Wednesday after gains of
more 3 percent in the previous session, pressured by concerns
over the outlook for the global economy.  
    * U.S. stocks rose on Tuesday as technology and internet
stocks gained on Netflix Inc's plans to raise fees for
U.S. subscribers and hopes of more stimulus for China's slowing
economy fostered a risk-on mood among investors.  
    
    DATA/EVENTS (GMT)
0700         Germany      CPI                        Dec
0700         Germany      HICP Final                 Dec
0930         Britain      CPI                        Dec
0930         Britain      RPI                        Dec
0930         Britain      RPIX                       Dec
0930         Bratain      PPI Input Prices NSA       Dec
0930         Bratain      PPI Output Prices NSA      Dec
0930         Bratain      PPI Core Output Prices     Dec
1330         US           Import Prices              Dec
1330         US           Export prices              Dec
1330         US           Retail Sales Ex-Autos      Dec
1330         US           Retail Sales               Dec
1500         US           Business Inventories       Nov
1500         US           NAHB Housing Market Index  Jan
        
 Grains prices at  0121 GMT
 Contract      Last   Change  Pct chg  Two-day chg   MA 30   RSI 
 CBOT wheat  512.50     1.50   +0.29%       -0.34%  518.96     46
 CBOT corn   373.25     2.00   +0.54%       -1.39%  380.05     40
 CBOT soy    897.00     3.75   +0.42%       -0.72%  911.61     51
 CBOT rice    10.36   -$0.02   -0.19%       -2.13%  $10.61     44
 WTI crude    51.77   -$0.34   -0.65%       +2.49%  $49.25     61
 Currencies                                                      
 Euro/dlr    $1.141  -$0.001   -0.08%       -0.60%               
 USD/AUD     0.7198    0.000   -0.03%       +0.04%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; editing by Richard Pullin)
  
Nuestros Estándares:Los principios Thomson Reuters
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