SINGAPORE, Nov 20 (Reuters) – Chicago soybean futures moved for a 4th successive session on Monday with rates dipping to a two-week short on expectations of rains in Brazil’s dry oilseed growing locations.
Corn and wheat lost ground.
PRINCIPLES
* The most-active soybean agreement on the Chicago Board of Trade (CBOT) Sv1 fell 0.5% to $13.34 a bushel since 0115 GMT, after dropping to the most affordable because Nov. 3 at $13.27 a bushel previously in the session.
* Corn Cv1 moved 0.3% to $4.65-1/ 2 a bushel and wheat Wv1 quit 0.4% to $5.73-3/ 4 a bushel.
* Forecasts of rains in Brazil today have actually reduced issues over dry weather condition slowing crop planting worldwide’s leading exporting country. Rates have actually drawn back after reaching the greatest given that August recently.
* Showers today will quickly relieve tension from heat and dryness in the northern 40% of Brazil’s soybean location, Commodity Weather Group stated. Northern Brazil is then anticipated to dry once again, the company stated.
* Extreme dryness is requiring farmers to quit on soybeans to plant cotton or another crop in Brazil’s leading farm state Mato Grosso, cotton lobby groups and growers stated.
* In France, winter season grain sowings had actually made little development and crop rankings fell recently, farm workplace FranceAgriMer information revealed on Friday in an indication that heavy rains took a toll on crops in the European Union’s most significant grain grower.
* French farmers had actually planted 71% of the anticipated soft wheat location for next year’s harvest by Nov. 13, compared to 67% a week previously and 96% by the exact same time in 2015, the workplace stated in a crop report.
* Some 151 ships have actually utilized Ukraine’s brand-new Black Sea delivering passage considering that it was established in August, the Interfax-Ukraine news company reported on Friday, mentioning a senior federal government authorities.
* Speculators increase their interest for Chicago soybeans and soymeal as crop issues for Brazil and a tight U.S. meal market have actually been raiding the headings.
* In the week ended Nov. 14, cash supervisors extended their net long in CBOT soybean futures and alternatives to an 11-week high of 87,913 agreements from 68,598 a week previously, mainly on brand-new gross longs.
MARKET NEWS
* Japanese shares reached highs not seen given that 1990 on Monday as strong profits and overseas need sustained a three-week winning streak, while other Asian markets were more blended with eyes repaired on the U.S. rate outlook. MKTS/GLOB
DATA/EVENTS (GMT)
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(Reporting by Naveen Thukral Editing by Chris Reese)
((naveen.thukral@thomsonreuters.com; 65-6870-3829; Reuters Messaging: naveen.thukral.thomsonreuters.com@reuters.net)
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