FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of
Trade (CBOT) was down 0.1% at $15.07-3/4 a bushel, as of
0157 GMT.
* Wheat was flat at $7.13 a bushel, while corn was steady at $6.34-1/4 a bushel.
* For the week, soybeans are down 0.8%, corn dropped about
2.3% and wheat lost 1.2%.
* The Buenos Aires grains exchange said on Thursday it plans
to cut its estimate for Argentina's soybean crop for the 2022/23
cycle for the fourth time as the country struggles with the
impact of drought and high temperatures.
* Ukraine sees no need to limit wheat exports for the
upcoming 2023/24 July-June season, as the winter harvest looks
to be larger than expected, albeit smaller than in peacetime, a
top agriculture ministry official said on Thursday.
* Iranian state agency, Government Trading Corporation
(GTC), is believed to have purchased Russian-origin milling
wheat in a tender that closed on Wednesday, European traders
said on Thursday.
* The U.S. Department of Agriculture is scheduled to release
the March crop supply-demand report, which will estimate 2022-23
U.S.-ending stocks for wheat, corn and soybeans on Wednesday,
March 8, at 12 p.m. EST (1700 GMT).
* Commodity funds were net buyers of Chicago Board of Trade
soybean, wheat, soymeal and soyoil futures contracts and net
sellers of CBOT corn on Thursday, traders said. MARKET NEWS
* Asian shares rose on Friday after Wall Street stocks
reversed losses to end higher overnight, as investors weighed
signals of a measured interest rate approach from U.S. Federal
Reserve officials and prospects of an economic recovery in
China. (Reporting by Matthew Chye; Editing by Sherry Jacob-Phillips)
SINGAPORE, March 3 (Reuters) - Chicago soybean futures
inched lower in early Asian trading on Friday and were poised
for weekly losses, despite gaining some support on uncertainty
over supply from top producer Argentina amid dry weather
conditions.
Wheat and corn posted tepid movements and were headed for
weekly losses.
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