FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of
Trade (CBOT) rose half a cent to $14.68-1/2 a bushel, as
of 0010 GMT. Wheat fell 0.4% to $6.97 a bushel and corn quarter of a cent to $6.47 a bushel.
* Argentina's Buenos Aires grains exchange maintained its
2022/2023 production forecasts for both soybean and corn on last
week, but cautioned further cuts were possible with yields on
the first batches of soy coming in below expectations.
* The exchange, which has been forced by a historic drought
hitting the country to repeatedly sharply cut soybean and corn
harvest forecasts, held its soybean estimate at 25 million
tonnes and its corn outlook at 36 million tonnes.
* Agricultural markets are likely to seek direction from
U.S. planting report due on Friday.
* Analysts polled by Reuters ahead of the report on average
expect 2023 corn plantings at 90.880 million acres, wheat at
48.852 million acres and soybeans at 88.242 million acres.
* Ukraine's grain exports for the 2022/23 season were down
17.7% to 36.9 million tonnes as of March 27 reflecting a smaller
harvest and logistical difficulties caused by Russia's invasion,
agriculture ministry data showed.
* Russia has no plans to halt wheat exports but wants
exporters to ensure high prices for farmers, sources told
Reuters.
* The USDA reported another flash sale to China of 136,000
tonnes of U.S. corn.
* Commodity funds were net buyers of CBOT corn, soybean,
wheat, soymeal and soyoil futures contracts on Tuesday, traders
said. MARKET NEWS
* Wall Street's major indexes closed lower on Tuesday while
Treasury yields and gold advanced as investors worried that the
U.S. Federal Reserve would keep interest rates higher for longer
as fears of further banking sector failures faded. DATA/EVENTS (GMT)
No major data/events expected on Wednesday, March 29
(Reporting by Naveen Thukral; editing by Uttaresh
Venkateshwaran)
SINGAPORE, March 29 (Reuters) - Chicago soybean futures
were little changed on Wednesday, holding near last session's
one-week high on concerns over lower production in drought-hit
Argentina.
Wheat and corn fell in positioning ahead of Friday's annual
U.S. Department of Agriculture (USDA) planting intentions
report.
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