FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of
Trade rose 0.2% to $6.86 a bushel, as of 0014 GMT. Corn lost 0.1% to $6.12-3/4 a bushel and soybeans were
unchanged at $14.91-1/4 a bushel.
* The U.S. Department of Agriculture's (USDA) National
Agricultural Statistics Service in a weekly crop report on
Monday rated 17% of the winter wheat in top producer Kansas in
good to excellent condition, unchanged from the previous week.
* Approximately 55% of U.S. winter wheat is produced in an
area currently experiencing drought, the USDA said last week, up
from 54% a week earlier.
* Russia on Monday suggested renewing a deal allowing the
safe export of grain from Ukraine's Black Sea ports but only for
half the term of the previous renewal while the United Nations
pledged to do everything possible to ensure the agreement's
integrity remained intact.
* The deal, extended for 120 days in November, is up for
renewal on Saturday. But Russian Deputy Foreign Minister Sergei
Vershinin said after talks with U.N. officials in Geneva that
Moscow was ready to extend the deal for only 60 days, citing
restrictions on Russia agricultural exporters.
* Large corn and soybean crops in Brazil are expected to
provide ample supplies, weighing on prices.
* Brazilian farmers are expected to produce the highest
volume of corn in history in spite of risks associated with
planting delays in some areas, according to a Reuters poll on
Monday.
* Brazil's total corn production will reach 126.63 million
tonnes in the 2022/2023 cycle, up 11.93% from the previous year,
a poll including 12 analysts showed.
* Brazilian farmers have harvested 53% of the soybean area
planted for 2022/23 through last Thursday, agribusiness
consultancy AgRural said on Monday, up 10 percentage points from
the previous week. At the same time last year, 64% of the
Brazilian soy fields had been reaped, said AgRural.
* Commodity funds were net sellers of CBOT soybeans, corn,
soy meal and soy oil futures contracts on Monday, traders said.
Funds were net buyers of CBOT wheat futures, traders said. MARKET NEWS
* Global bank shares and short-dated U.S. Treasury yields
plunged on Monday as concerns over fallout from the collapse of
Silicon Valley Bank lingered despite action from
regulators. DATA/EVENTS (GMT)
0700 UK ILO Unemployment Rate Jan
0700 UK HMRC Payrolls Change Feb
1230 US Core CPI MM, SA Feb
1230 US Core CPI YY, NSA Feb
1230 US CPI Wage Earner Feb
(; Editing by Rashmi AichReporting by Naveen Thukral)
