GRAINS-Wheat falls for 6th session, hits lowest in nearly 3 mths

SYDNEY, May 28 (Reuters) – U.S. wheat hit a near three-month low on Wednesday, with farmers planting the spring crop faster than expected due to favourable weather.


* Chicago Board of Trade July wheat dropped 0.39 percent to $6.38-1/2 a bushel, just shy of the session low of $6.37-1/4 – the weakest since March 4. Wheat closed down 1 percent on Tuesday.

* July corn fell 0.21 percent to $4.68-3/4 a bushel, after earlier dropping as far as $4.68-1/2 – the lowest since March 3. Corn declined 1.7 percent in the previous session.

* July soybeans rose 0.27 percent to $14.92-3/4 a bushel, having slid 1.8 percent on Tuesday.

* The U.S. Department of Agriculture said in its weekly crop progress report that soybean planting was a better-than-expected 59 percent complete as of May 25, topping the late-May five-year average of 56 percent and up 26 percentage points from a week ago.

* Spring wheat planting was a better-than-expected 74 percent complete, still behind the five-year average of 82 percent but topping analysts forecasts for 65 percent. A week ago, just 49 percent of the crop was planted.

* U.S. winter wheat was rated 31 percent good to excellent as of May 25, up 2 percentage points from a week earlier. Analysts had predicted good-to-excellent ratings of 30 percent.

* The USDA also said that corn planting was 88 percent complete as of May 25, matching analysts’ expectations as well as the five-year average.

* The USDA showed export inspections of soybeans and wheat near the low end of analyst estimates while inspections of corn were beat expectations.


* The U.S. dollar held near an eight-week peak against a basket of major currencies early on Wednesday, having edged up on the back of encouraging U.S. data and another record high on Wall Street.

* Crude oil futures edged lower on Tuesday as traders took profits after a holiday weekend, with prices supported by violence in Ukraine and expectations for a draw on U.S. crude stocks at the Cushing, Oklahoma hub.

* U.S. stocks rose on Tuesday as the S&P 500 scored a second straight record close, buoyed by the latest round of merger activity and as expectations.


0600 Germany

Import prices


0645 France

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0645 France

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0755 Germany

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0800 Euro zone

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1145 U.S.

Weekly ICSC chain store sales

Grains prices at 0056 GMT Contract


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


-2.50 -0.39%


694.87 12 CBOT corn


-1.00 -0.21%


498.18 25 CBOT soy


4.00 +0.27%


1484.03 50 CBOT rice

$15.07 -$0.02 -0.13%


$15.38 28 WTI crude


$0.07 +0.07%


$101.90 66 Currencies


$1.363 $0.000 -0.02%

-0.12% USD/AUD


0.000 +0.01%

+0.24% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham)

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