GRAINS-Corn lingers around over one-week high on strong export demand

CANBERRA, March 17 (Reuters) - U.S. corn futures rose on Wednesday, as strong demand for U.S. supplies kept prices around a more than one-week high hit in the previous session.


* The most active corn futures on the Chicago Board Of Trade were up 0.1% to $5.54-3/4 a bushel by 0248 GMT, after gaining 0.9% on Tuesday when prices hit a March 8 high of $5.55-1/2 a bushel.

* The most active soybean futures were down 0.1% to $14.21-1/4 a bushel, after firming 0.3% in the previous session.

* The most active wheat futures were up 0.1% at $6.47-1/2 a bushel, having closed up 1% on Tuesday.

* The U.S. Department of Agriculture (USDA) on Tuesday confirmed U.S. corn sales to China totalling 1.156 million tonnes, the highest since January.

* The sales came after the USDA on Monday reported one of the strongest weeks of corn export inspections on record.

* Russia is prepared to stop interfering in the regulation of grain exports when the market stabilises, the Interfax news agency cited Agriculture Minister Dmitry Patrushev as saying on Tuesday.


* Major currencies held tight ranges, as investors looked to the U.S. Federal Reserve’s policy meeting for any indications it could start rate hikes earlier or let bond yields rise further.

* Oil prices slipped for a fourth day on worries about rocky demand in Europe, even as hopes of a recovery in U.S. refinery activity were boosted by industry data that showed U.S. crude stockpiles unexpectedly fell last week.

* Asian stocks were set to open mostly lower following a sell-off in U.S. stocks, as investors awaited the Federal Reserve’s meeting and whether the central bank will maintain near-zero interest rates amid the economy’s post-pandemic recovery.

Reporting by Colin Packham; Editing by Rashmi Aich