GRAINS-Corn firms after USDA confirms planting delays

SYDNEY, April 29 (Reuters) - U.S. corn futures rose for a
third straight session on Wednesday to hover close to a near
three-week high after the U.S. Department of Agriculture said
the pace of planting fell short of market expectations.
         
    FUNDAMENTALS  
    * Chicago Board Of Trade July corn rose 0.4 percent to
$5.15-3/4 a bushel, having gained 0.2 percent in the previous
session when the grain hit a high of $5.18-1/2 a bushel, the
highest since April 9.
    * July wheat fell 0.3 percent to $7.06-3/4 a bushel,
having closed marginally higher on Monday. 
    * July soybeans fell 0.3 percent to $14.96 a bushel,
	
having firmed 0.4 percent on Monday. * U.S. farmers have planted 19 percent of their 2014 corn crop as of April 27, behind the five-year average of 28 percent, the U.S. Department of Agriculture said in its third crop progress report of the season. * Analysts polled by Reuters ahead of the closely watched report expected corn, on average, to be 21 percent seeded. * The winter wheat crop was rated 33 percent good to excellent, down 1 point from the previous week and well below the five-year average of 49 percent, USDA said in its weekly crop progress report. * Analysts polled by Reuters, on average, expected no change to the condition ratings. * Argentina has authorized an additional 500,000 tonnes in 2013/14 wheat exports, President Cristina Fernandez said on Monday, bringing the official exportable surplus for the season to 1.5 million tonnes. MARKET NEWS * The euro traded at multi-week highs against the yen early on Tuesday and held firm against the dollar following a surprisingly strong performance overnight as expectations for additional stimulus from the European Central Bank waned. * Brent crude oil prices fell almost $1.50 a barrel on Monday as Libya prepared to resume exports from an eastern port, while the spread versus U.S. futures abruptly narrowed after widening for two weeks.
* The S&P 500 ended higher on Monday after a volatile session, as gains in Apple and Pfizer helped offset another round of selling in some high-growth tech shares. DATA/EVENTS (GMT) 0600 Germany GfK consumer sentiment May 0600 Germany GfK consumer sentiment May 1145 U.S. ICSC chain stores yy Weekly 1300 U.S. CaseShiller 20 MM SA Feb 1300 U.S. CaseShiller 20 MM NSA Feb 1300 U.S. CaseShiller 20 YY Feb 2030 U.S. API weekly crude stocks Weekly 2030 U.S. API weekly dist. stocks Weekly 2030 U.S. API weekly gasoline stk Weekly Grains prices at 0030 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 706.75 -1.75 -0.25% -0.21% 695.38 58 CBOT corn 515.75 2.00 +0.39% +0.59% 502.21 64 CBOT soy 1496.00 -4.00 -0.27% +0.12% 1457.81 60 CBOT rice $15.36 -$0.02 -0.10% -0.71% $15.52 55 WTI crude $100.92 $0.08 +0.08% +0.32% $101.51 36 Currencies Euro/dlr $1.385 $0.000 +0.04% +0.17% USD/AUD 0.924 -0.002 -0.18% -0.38% 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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