GRAINS-Chicago wheat extends losses; markets watch Midwest crop tour
BEIJING, Aug 19 (Reuters) - Chicago wheat futures fell for a second session on Tuesday on technical selling and better-than-expected crop ratings, though strong export demand lent some support.
Corn also eased on favourable weather, while soybeans firmed.
FUNDAMENTALS
* The most active wheat contract on the Chicago Board of Trade (CBOT) Wv1 was down 0.43% at $5.23 per bushel, as of 0141 GMT.
* Corn Cv1 slipped 0.49% to $4.05 a bushel, while soybeans Sv1 edged up 0.17% to $10.43 a bushel.
* Traders are awaiting results from the Pro Farmer Midwest crop tour, which is surveying corn and soybean fields across the U.S. this week.
* Ohio and South Dakota's corn yield prospects and soybean pod counts are higher than both last year and the three-year average, according to scouts on an annual tour of top U.S. production states on Monday.
* The U.S. Department of Agriculture's weekly report on Monday showed U.S. corn crop conditions declined slightly over the past week but remained at their strongest since 2016, while soybean ratings remained steady.
* Half of the U.S. spring wheat crop was rated to be in good to excellent condition, up one percentage point from a week earlier and above expectations.
* Farmers are expected to harvest a bumper soybean crop and a record corn crop due to favourable weather across the Midwest.
* Exporters sold 124,000 metric tons of U.S. corn to unknown buyers for 2025/26 delivery, the U.S. Department of Agriculture said.
* Markets are also monitoring developments in efforts to end Russia's war in Ukraine. Both countries are major grain exporters.
* Commodity funds were net buyers of CBOT corn and soyoil futures contracts on Monday, traders said. They were net even on soybean contracts and net sellers of soymeal and wheat futures. COMFUND/CBT
MARKET NEWS
* The U.S. dollar held steady against its major peers on Tuesday as global markets awaited the outcome of a White House summit with European nations that could determine the next phase of the war in Ukraine. FRX/
DATA/EVENTS (GMT)
1230 US Housing Starts Number July
Related Articles
Fed at a Crossroads: Powell Faces the Spotlight at Jackson Hole in a Moment of Fed Uncertainty
TradingKey - The annual Jackson Hole Symposium is currently underway, with Federal Reserve Chair Jerome Powell’s speech on Friday, August 22, drawing global attention. Amid growing internal divisions within the Fed and external pressure from the Trump administration to reshape its leadership, will
[Reuters Analysis] Powell's last Jackson Hole speech could pack a punch: McGeever
By Jamie McGeever ORLANDO, Florida, Aug 20 (Reuters) - Financial markets are taking in a collective breath ahead of Jerome Powell's eighth and final keynote Jackson Hole speech as Federal Reserve Chair. If the moves following his last seven are any guide, investors buckle up for a bumpy ride....Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed Chair
Eurozone Q2 GDP Commentary: Will the Euro's Upward Momentum Persist?
TradingKey - On 14 August 2025, Eurostat published Q2 GDP figures, revealing a drop in the Eurozone's quarter-on-quarter growth from 0.6% in the first quarter to 0.1%. Consequently, annual growth eased from 1.5% to 1.4%. The slowdown primarily stems from the diminishing boost from European...
Ethereum Price Prediction: Will ETH Extend the Rally? What’s the Future Trend?
Ethereum's impressive 2025 rally has been largely fueled by inflows from spot ETFs and a surge in institutional holdings, signaling growing confidence in its role as a core asset in the crypto market. However, to officially confirm the start of a new bull cycle, ETH must break above the critical $4,
