Wheat consolidates below 3-1/2-month peak as supply risks loom
CANBERRA, Oct 4 (Reuters) -Chicago wheat futures slipped for a second day on Friday, as traders injected some caution into a rally fuelled by drought in top producer Russia that pushed prices to 3-1/2-month highs earlier in the week.
Corn futures also eased after reaching a three-month peak on Wednesday, although further gains in oil prices amid the Middle East conflict continued to support prices by boosting plant-made ethanol. O/R
Soybeans fell as forecasts for rain in top producer Brazil boosted the supply outlook.
FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of Trade Wv1 was down 0.8% at $5.99 a bushel, as of 0017 GMT. The contract on Wednesday touched $6.17, its highest since June 14.
* Prices are still up around 3.4% this week.
* CBOT corn Cv1 slipped 0.6% to $4.25-1/2 a bushel, having hit $4.34-1/4 on Wednesday, its highest since June 28. The contract was set for a 1.8% weekly gain.
* Soybeans Sv1 were flat at $10.45-3/4 a bushel and down 1.9% so far this week.
* All three contracts fell to four-year lows in recent months, but have regained a little ground as central banks cut interest rates, the U.S. dollar weakened and adverse weather threatened supply. FRX/ USD=
* Oryol on Wednesday became the latest Russian region to declare a state of emergency due to adverse growing conditions, and the country's grain exporters' union called for a quota mechanism to limit shipments, heightening supply concerns.
* A spat between Russia and Kazakhstan, meanwhile, led to Moscow effectively banning imports and transit of Kazakh grain through Russian territory, Kazakh officials said.
* U.S. weekly wheat export sales reported by the government on Thursday exceeded expectations. EXP/WHE
* On the demand side, however, Reuters reported that Egypt, one of the world's biggest wheat buyers, has developed plans to slash imports and use more corn or sorghum in state-subsided bread.
* In other crops, dry conditions are likely to impede corn planting efforts in Argentina's main agricultural core over the next seven days, the Buenos Aires grains exchange said.
* U.S. weekly corn exports came in well above analysts' expectations. EXP/CORN
MARKETS NEWS
* Global stocks fell on Thursday, weighed by tepid trading in equity markets across the U.S. and other major regions, while oil prices jumped, buoyed by rising geopolitical tensions from the Middle East conflict. MKTS/GLOB
Reporting by Peter Hobson; Editing by Sherry Jacob-Phillips
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
