GRAINS-Soybeans come off near 3-month high ahead of USDA data

SYDNEY, Dec 10 (Reuters) - U.S. soybean futures slipped on
Tuesday, pulling back after hitting a near three-month high in
the previous session, as traders squared positions ahead of the
widely watched U.S. Department of Agriculture forecast.

FUNDAMENTALS
* Chicago Board Of Trade January soybeans fell 0.13
percent to $13.42 a bushel, having firmed 1.4 percent on Monday
when the oilseed hit a near three-month high of $13.46-3/4 a
bushel.
* March corn dipped 0.11 percent to $4.37-1/2 a
bushel, having gained 0.86 percent in the previous session.
* March wheat rose 0.19 to $6.51-3/4 a bushel, having

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closed down 0.1 percent on Monday.
* Grain analysts are gearing up for the U.S. government on
Tuesday to trim its forecasts for U.S. corn and soybean
supplies, reflecting a brisk export sales pace.

* U.S. Agriculture Department report said private exporters
sold 290,000 tonnes of U.S. soybeans to China.
* A cold snap across the U.S. Plains and key growing areas
of the soft red winter wheat region.

MARKET NEWS
* The euro stayed bid in Asia on Tuesday, having scaled a
fresh five-year high on the yen and six-week peak against the
dollar as expectations for further stimulus from the European
Central Bank continued to fade.
* Brent crude fell 2 percent on Monday in reaction to
well-supplied markets and limited demand from European refiners,
narrowing the gap between the global and U.S. oil benchmarks to

its slimmest in nearly a month.
* U.S. stocks edged higher on Monday, with the S&P 500
closing at a record high, as traders awaited more clues from the
Federal Reserve on whether the U.S. central bank would soon
begin winding down its economic stimulus.

DATA (GMT)
0500 Japan Consumer confidence
0530 China Industrial output
0530 China Retail sales CNRSL=ECI>
0530 China Urban investment
0745 France Industrial output
1230 U.S. NFIB business optimism
1245 U.S. Weekly ICSC chain store sales
1500 U.S. ISM semiannual economic forecast
1500 U.S. Wholesale inventories
1700 World agricultural supply and demand report
1900 U.S. Federal budget

Grains prices at 0134 GMT
Contract Last Change Pct chg Two-day chg MA 30 RSI
CBOT wheat 651.75 1.25 +0.19% +0.12% 660.11 32
CBOT corn 437.50 -0.50 -0.11% +0.75% 432.33 60
CBOT soy 1342.00 -1.75 -0.13% +1.24% 1299.28 68
CBOT rice $15.50 -$0.01 -0.10% -0.32% $15.62 33
WTI crude $97.44 $0.10 +0.10% -0.22% $94.90 68
Currencies
Euro/dlr $1.374 $0.000 +0.02% +0.27%
USD/AUD 0.909 -0.002 -0.22% -0.09%
Most active contracts
Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
RSI 14, exponential

(Reporting by Colin Packham; Editing by Ed Davies)