FUNDAMENTALS
* The most-active corn contract on the Chicago Board of
Trade (CBOT) was down 0.4% at $6.50-1/4 a bushel, as of
0213 GMT. Wheat lost 0.2% to $6.80-3/4 a bushel, while
soybeans shed 0.2% to $15.08-1/2 a bushel.
* Focus has shifted to forecasts of a drier, warmer weather
that may boost spring field work in the U.S. northern farm belt,
which was hit by snow this week, and away from poor conditions
for drought-affected winter wheat in the southern Plain.
* After the Easter holidays, the U.S. Department of
Agriculture is scheduled to release its April crop supply/demand
report on Tuesday, April 11, at 12 p.m. EDT (1600 GMT). The
report will include figures for Argentine and Brazilian 2022-23
production of corn and soybeans.
* Argentina's government announced a new plan setting a
special exchange rate of 300 pesos per dollar to encourage
soybean exports amid severe financial difficulties and foreign
exchange shortages.
* Argentina's grains inspectors union ended a week-long
strike after securing a deal to more than double salaries in
line with the country's surging inflation rate, it said on
Wednesday.
* Soft wheat exports from the European Union in the 2022/23
season that started in July had reached 23.15 million tonnes by
April 2, compared with 21.52 million by the same week in
2021/22, data published by the European Commission showed.
* Egypt's General Authority for Supply Commodities set an
international tender for wheat for shipment from May 10-20
and/or May 21-31, with an offers deadline on April 6.
* Commodity funds were net sellers of CBOT corn, soybeans,
wheat, soymeal and soyoil futures contracts on Wednesday,
traders said. MARKET NEWS
* Asian stocks and U.S. equity futures sank while bonds and
the safe-haven U.S. dollar and Japanese yen were bid as mounting
evidence of a U.S. slowdown fuelled worries for a global
recession. DATA/EVENTS (GMT)
0430 India Cash Reserve Ratio
0600 Germany Industrial Output Feb 0600 UK Halifax House Prices Mar 0830 UK All Sector PMI Mar 0830 UK S&P Global/CIPS Cons PMI Mar 1230 US Initial Jobless Claims weekly
