SYDNEY, May 19 (Reuters) – U.S. wheat futures fell 1 percent on Monday, sliding for a ninth straight session, as forecasts called for rains across key growing regions this week, pushing prices to a five-week low.
FUNDAMENTALS
* Chicago Board Of Trade July wheat fell 1.0 percent to $6.67-3/4 a bushel, having hit a session low of $6.65-1/2 a bushel, the lowest since April 11. Wheat closed down 0.6 percent on Friday.
* July corn fell 1.0 percent to $4.78-3/4 a bushel, just about the session low of $4.78-3/4 a bushel, the lowest since March 11. Corn closed down 0.2 percent in the previous session.
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* July soybeans fell 0.2 percent to $14.62 a bushel, having fallen 0.2 percent on Friday.
* Wheat came under pressure as the National Oceanic and Atmospheric Administration forecast rain for many key U.S. growing regions.
* Rains will ease stress on U.S. winter crops, while aiding soil moisture ahead of planting of spring wheat.
* Egypt, one of the world’s largest importers of wheat, bought 60,000 tonnes of Ukrainian wheat for shipment on June 20-30, the main government wheat-buying entity said on Friday.
* The U.S. Agriculture Department said on Friday that private exporters reported the sale of 180,000 tonnes of soybeans for delivery in the 2014/15 marketing year to unknown destinations, which traders said was likely China.
MARKET NEWS
* The euro got off to a relatively steady start on Monday after two punishing weeks as investors waited for fresh data before deciding on whether bears still hold the upper hand.
* Brent crude oil rose on Friday to end nearly 2 percent higher on the week, boosted by concerns over output in Libya, where recently opened fields were closed again and clashes erupted in the east.
* U.S. stocks ended higher on Friday in a late-day rebound as small-cap names edged up after recent weakness and consumer discretionary shares advanced.
Grains prices at 0046 GMT Contract
Last
Change Pct chg Two-day chg MA 30 RSI CBOT wheat
667.75
-6.50 -0.96%
-1.55%
699.48 24 CBOT corn
478.75
-4.75 -0.98%
-1.14%
504.94 26 CBOT soy
1462.00
-3.00 -0.20%
-0.56%
1476.71 39 CBOT rice
$15.45
$0.05 +0.32%
+0.46%
$15.46 55 WTI crude
$102.06
$0.04 +0.04%
+0.04%
$101.77 61 Currencies
Euro/dlr
$1.370 $0.001 +0.07%
-0.06% USD/AUD
0.936
0.000 -0.01%
+0.04% 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)
