GRAINS-Corn falls on record U.S. production

SYDNEY, Aug 13 (Reuters) – U.S. corn futures fell on Wednesday as the U.S. Department of Agriculture’s forecast for record domestic production weighed on prices, although losses were capped as the estimate fell below market expectations.


* Chicago Board Of Trade December corn fell 0.75 percent to $3.66-1/4 a bushel, having gained 0.13 percent in the previous session.

* November soybeans little changed at $10.59-3/4 a bushel, having closed down 1.3 percent on Tuesday.

* September wheat little changed at $5.37-3/4 a bushel, having closed down 1.6 percent on Tuesday.

* U.S. corn production in 2014 was pegged by the USDA at 14.03 billion bushels, below trade estimates averaging at 14.25 billion.

* Ending stocks were seen at 1.8 billion bushels, also below estimates.

* USDA estimated lower-than-expected corn yields.

* The USDA estimated the U.S. soybean crop at a record of 3.82 billion bushels, up 16 percent on the year and close to trade expectations.

* Projected U.S. wheat ending stocks were little changed on the month, but global wheat stocks jumped to almost 193 million tonnes, above expectations.

* Russia’s wheat crop rose by 6 million tonnes on the month, crisis-torn Ukraine’s production was forecast 1 million tonnes higher, and the Chinese crop was raised by 2 million.

* Consultancy UkrAgroConsult revised its outlook for Ukraine’s grain exports in the 2014/15 season 2.5 percent higher to 32.5 million tonnes on Tuesday.


* The euro nursed only modest losses early on Wednesday, having regained quite a bit of ground as markets got over a closely watched report that showed a slump in German economic sentiment.

* Brent crude oil fell to a 13-month low on Tuesday as increased OPEC production helped dampen concerns over potential supply disruptions in Iraq and Libya.

* U.S. stocks ended lower on Tuesday, snapping a two-day rally as energy shares tumbled on sliding oil prices. The pullback occurred on light volume typical of mid-August.


0530 China

Urban investment


0530 China

Industrial output


0530 China

Retail sales


0600 Germany

Wholesale price index


0900 Euro zone Industrial production


1230 U.S.

Retail sales


1400 U.S.

Business inventories


Grains prices at 0031 GMT Contract


Change Pct chg Two-day chg MA 30 RSI CBOT wheat


-0.25 -0.05%


542.88 44 CBOT corn


-2.75 -0.75%


379.68 38 CBOT soy


0.25 +0.02%


1087.38 62 CBOT rice


$0.00 +0.00%


$13.26 31 WTI crude

$97.22 -$0.15 -0.15%


$100.85 31 Currencies


$1.337 $0.000 -0.03%

-0.15% USD/AUD


0.001 +0.12%

+0.15% 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)

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