February 27, 2019 / 4:32 AM / 6 months ago

GRAINS-Wheat rebounds from 10-month low, tepid U.S. exports cap gains

    By Colin Packham
    SYDNEY, Feb 27 (Reuters) - U.S. wheat futures edged higher
on Wednesday, rebounding from a 10-month low touched in the
previous session, though gains were checked amid concerns over
international demand for North American supplies.
    Corn edged lower, while soybeans were unchanged.
    Grain trading was delayed after U.S. exchange operator CME
Group said on Wednesday it had to halt all product
trading on its CME Globex platform due to technical issues, it
said via Twitter.
    The most active wheat futures on the Chicago Board of Trade
 was up 0.5 percent at $4.70-1/2 a bushel by 0405 GMT after
closing down 1 percent in the previous session when prices hit a
low of $4.63-3/4 a bushel - the lowest since April 16.
    Analysts said wheat remains under pressure from tepid demand
for U.S. supplies, confirmed the U.S. Department of
Agriculture's export inspections report earlier this week.

    "Export inspections should be bouncing by now if the U.S. is
going to make inroads into its inventories," said Tobin Gorey,
director of agricultural strategy, Commonwealth Bank of
    Providing some support, the USDA said the condition of U.S.
winter wheat declined from late November to late February across
much of the U.S. Plains.
    The most active corn futures were down 0.1 percent at
$3.65-1/2 a bushel after closing down 1.1 percent on Tuesday.
    The most active soybean futures were unchanged at
$9.17-1/4 a bushel after closing down 0.9 percent in the
previous session.
    Soybeans drew support on Monday after U.S. President Donald
Trump said he may soon sign a deal with China, but offered few
    The USDA confirmed on Tuesday sales of 120,000 tonnes of
U.S. soybeans to Mexico for shipment in the current and next
marketing years.
 Grains prices at  0405 GMT
 Contract      Last   Change  Pct chg  Two-day chg   MA 30  RSI 
 CBOT wheat  470.50     2.25   +0.48%       -0.48%  513.63    19
 CBOT corn   365.75    -0.50   -0.14%       -1.28%  375.96    30
 CBOT soy    903.75     0.00   +0.00%       -0.88%  911.87    42
 CBOT rice    10.63    $0.00   +0.00%       +2.21%  $10.57    59
 WTI crude    55.92    $0.42   +0.76%       +0.79%  $54.07    58
 Euro/dlr    $1.138  -$0.001   -0.07%       +0.17%              
 USD/AUD     0.7177   -0.001   -0.13%       +0.17%              
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice:USD per hundredweight
 RSI 14, exponential
 (Reporting by Colin Packham; Editing by Gopakumar Warrier)
Nuestros Estándares:Los principios Thomson Reuters
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