Corn and soybeans rose for a second straight session.
FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of
Trade (CBOT) added 0.2% to $6.97-3/4 a bushel, as of 0107
GMT, not far from Tuesday's one-week high of $6.99-3/4 a bushel.
* Corn added 0.7% to $6.25 a bushel and soybeans gained 0.3% at 14.98 a bushel.
* Talks continued to extend the deal to allow grain
shipments from Ukraine's Black Sea ports ahead of a deadline
later this week, the United Nations and Turkey said on Tuesday,
after Kyiv rejected a Russian push for a reduced 60-day renewal.
* Russia and Ukraine are among the world's largest grain
exporters and the creation of the corridor has helped cool
global food commodity prices that hit record highs after Russia
invaded Ukraine a year ago.
* Last week's dip in grain prices to multi-month lows
appeared to have spurred export business. Algeria, Tunisia and
Jordan bought wheat this week, European traders said, and the
U.S. Department of Agriculture on Tuesday confirmed private
sales of 612,000 tonnes of U.S. corn to China.
* Brazil's corn exports fell sharply in February as soybean
shipments take centre stage and Chinese buyers turn to countries
like the United States and Ukraine for supplies.
* Commodity funds were net buyers of CBOT corn, wheat,
soyoil and soymeal futures contracts on Tuesday and were net
even in soybean futures, traders said. MARKET NEWS
* Global shares stemmed a five-session rout on Tuesday as
bank shares rebounded and closely-watched U.S. inflation data
was in line with expectations, bolstering bets of a smaller
interest rate hike by the Federal Reserve at its meeting next
week. DATA/EVENTS (GMT)
0200 China Urban Investment (YTD) YY Feb
0200 China Retail sales YY Feb
0200 China Unemp Rate Urban Area Feb
0745 France CPI (EU Norm) Final MM, YY Feb
1100 EU Reserve Assets Total Feb
1230 US PPI Machine Manuf'ing Feb
1230 US Retail Sales MM Feb
(Reporting by Naveen Thukral; Editing by Rashmi Aich)
