March 26, 2019 / 1:08 AM / 24 days ago

GRAINS-Wheat hits one-month high on concerns over planting delays

    SYDNEY, March 26 (Reuters) - U.S. wheat futures rose on
Tuesday to hit a one-month high as adverse weather across a
major North American producing region stoked fears about
potential planting delays.
         
    FUNDAMENTALS  
    * The most active wheat futures on the Chicago Board Of
Trade were up 0.5 percent at $4.71-3/4 a bushel by 0031
GMT, just off the session high of $4.74-1/2 a bushel - the
highest since Feb. 27. Wheat closed up 0.7 percent on Monday.
    * The most active soybean futures were little changed
at $9.06-3/4 a bushel, having firmed 0.4 percent on Monday.
    * The most active corn futures were down 0.1 percent
to $3.79-1/2 a bushel, having gained 0.4 percent in the previous
session.
    * Raising concerns about wheat production, a blanket of
heavy, wet snow is covering most of North Dakota, the top U.S.
wheat state, which could mean a delay in planting spring wheat.

    * The Farm Belt is still reeling from a "bomb cyclone" storm
that unleashed floods last week.
    * On Monday, the U.S. Department of Agriculture reported
export inspections of U.S. wheat in the latest week at 340,398
tonnes. 
    * Export inspections of corn totalled 995,997 tonnes, while
inspections of soybeans were 857,970 tonnes.
         
    MARKET NEWS  
    * The euro gained on Monday as a stronger-than-forecast
German business confidence survey allayed some fears about a
recession and pulled the safe-haven yen from a six-week high
against the dollar.  
    * Oil prices were mixed on Monday, as concerns about a
slowdown in global economic growth lingered, offset by the
prospect of tighter U.S. crude supply.  
    * The S&P 500 Index ended a choppy session slightly
lower on Monday as worries about a slowdown in global economic
growth lingered and as Apple Inc shares fell after the
company unveiled its video streaming service.  
        
 Grains prices at  0031 GMT
 Contract      Last  Change  Pct chg   Two-day chg    MA 30  RSI 
 CBOT wheat  471.75    2.25   +0.48%        +1.23%   470.11    62
 CBOT corn   379.50   -0.25   -0.07%        +0.33%   375.22    72
 CBOT soy    906.75    0.25   +0.03%        +0.33%   910.83    59
 CBOT rice    11.10  -$0.07   -0.63%        -1.03%   $10.65    70
 WTI crude    59.27   $0.45   +0.77%        +0.39%   $57.05    64
 Currencies                                                      
 Euro/dlr    $1.131  $0.000   +0.03%        +0.01%               
 USD/AUD     0.7117   0.001   +0.08%        +0.49%               
 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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