FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of
Trade (CBOT) added 0.1% to $6.67-1/2 a bushel, as of 0019
GMT. Soybeans fell 0.1% to $15.00-1/4 a bushel while corn rose 0.1% to $6.52-3/4 a bushel.
* Wheat is set for a second week of losses, down 1.3%,
soybeans were largely unchanged and corn has limbed 1.4%.
* Russia on Thursday said there would be no extension of the
UN-brokered Black Sea grain deal beyond May 18 unless the West
removed a series of obstacles to the export of Russian grain and
fertiliser.
* Argentina's Rosario grains exchange on Wednesday further
cut its forecast for the 2022/2023 soybean harvest to 23 million
tonnes, down from the 27 million tonnes previously estimated, as
a historic drought pummels the country's agricultural sector.
* That came after the U.S. Department of Agriculture (USDA)
on Tuesday cut its own forecast for the Argentine soybean crop
to 27 million tonnes.
* Argentina's Buenos Aires grains exchange on Thursday said
farmers would likely leave large tracts of soy fields
unharvested due to damage from a historic drought, which could
lead to more cuts to its 25 million tonne production forecast.
* The Rosario exchange also cut its forecast for Argentina's
corn output to 32 million tonnes from 35 million previously.
* China's March soybean imports rose 8% from the same month
a year earlier, data showed on Thursday, bringing first quarter
arrivals to a record even as demand failed to pick up as
expected.
* Brazilian farmers will produce a record 153.6 million
tonnes of soybeans this season, an increase of 2.2 million
tonnes compared to a March forecast as harvesting draws to a
close in the world's biggest exporter of the oilseed.
* In a report released Thursday by the government's food
supply and statistics agency Conab, it cited adjustments in
national average yield estimates as a factor for the upward
revision.
* A U.S. weather forecaster on Thursday predicted a 62%
chance of the El Niño phenomenon developing in the Northern
Hemisphere during May-July, and a strong chance toward end-year,
likely compounding risks to crops across the globe.
* Commodity funds were net sellers of CBOT corn, soybeans,
wheat and soyoil futures contracts on Thursday, traders said.
Funds were net buyers of soymeal futures, traders said. MARKET NEWS
* A gauge of global stocks rallied and bond yields were
steady on Thursday after moderating U.S. producer prices and a
jump in weekly jobless claims bolstered bets that the Federal
Reserve may soon pause its hiking of interest rates to tame high
inflation. DATA/EVENTS (GMT)
0645 France CPI (EU Norm) Final MM, YY March
1230 US Import Prices YY March
1230 US Retail Sales MM March
1315 US Industrial Production MM March
1400 US U Mich Sentiment Prelim April
(Reporting by Naveen Thukral)
SINGAPORE, April 14 (Reuters) - Chicago wheat futures
rose on Friday after Russia raised fresh doubts over the
extension of a Black Sea deal to allow Ukraine to continue
shipping agricultural products.
Soybeans eased, although losses were limited by concerns
over a severe drought cutting output in top supplier Argentina.
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