FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of
Trade (CBOT) was up 0.2% at $7.23-1/4 a bushel, as of 0126
GMT, after dropping to its lowest since Jan. 23 at a $7.17
bushel on Friday.
* Soybeans lost three quarters of a cent to $15.18-1/2
a bushel, while corn gained 0.3% at $6.51-1/4 a bushel.
* On the first anniversary of Russia's invasion of major
grains producer Ukraine, traders largely expect an extension of
the Black Sea grain deal that facilitated the flow of Ukrainian
crops to world buyers. Struck last year, the agreement has
increased competition for suppliers of wheat and corn.
* Russian President Vladimir Putin spoke to Turkish
counterpart Tayyip Erdogan about the deal on Friday.
* In the soybean market, the United States faces competition
for export sales from cheaper supplies in Brazil.
* Large speculators raised their net long position in
Chicago Board of Trade corn futures in the week ended Jan. 31,
regulatory data released on Friday showed.
* The Commodity Futures Trading Commission's weekly commitments of traders report also showed that noncommercial traders, a category that includes hedge funds, trimmed their net short position in CBOT wheat and raised their net long position in soybeans.
MARKET NEWS
* Asian shares slipped on Monday as markets were forced to
price in ever-loftier peaks for U.S. and European interest
rates, slugging bonds globally and pushing the dollar to
multi-week highs. DATA/EVENTS (GMT)
0500 Japan Leading Indicator Revised Dec
1000 EU Consumer Confid. Final Feb
1100 France Unemp Class-A SA Jan
1330 US Durable Goods Jan
(Reporting by Naveen Thukral; Editing by Sherry Jacob-Phillips)
