FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of
Trade (CBOT) fell 0.1% to $6.92-1/4 a bushel, as of 0013
GMT. Soybeans gave up 0.2% to $14.75-1/4 a bushel and corn lost 0.1% to $6.36 a bushel.
* Inspections of ships carrying Ukrainian grain from the
Black Sea resumed on Wednesday under a U.N.-brokered deal but
Kyiv faces a struggle to secure an extension of the agreement,
as well as a widening import ban in eastern Europe.
* Bulgaria became the fourth European Union member state in
the region to block Ukrainian grain imports, hoping to protect
local farmers following an influx of cheaper supplies since
Russia's invasion of Ukraine 14 months ago.
* Russia will have a good grain harvest this year of about
123 million tonnes, including 78 million tonnes of wheat, its
agriculture minister said on Wednesday, indicating the harvest
will be about a fifth less than the record achieved last year.
* Russia had a record grain harvest of 153.8 million tonnes
in 2022, including over 100 million tonnes of wheat, due to
higher yields and an increase in the area sown.
* Oil prices slid about 2% to a two-week low on Wednesday as
the dollar strengthened on fears that looming Federal Reserve
interest rate hikes could curb energy demand in the world's top
consumer.
* Oil often directs the movement in agricultural markets
with growing use of crops in making biofuels which compete with
petroleum products.
* In the United States, weather forecasts pointed to
rainfall next week in some drought-affected U.S. hard red winter
wheat belts, although planting of soybeans and corn was seen
continuing.
* A federation of unions representing Argentina's port and
maritime workers lifted a three-day-old strike that had affected
the key Rosario grains shipping hub, the federation said in a
statement on Wednesday.
* Commodity funds were net sellers of CBOT grain and soy
futures contracts on Wednesday, traders said. MARKET NEWS
* A gauge of global stocks slipped on Wednesday after
back-to-back gains as investors digested the latest earnings
reports, while Treasury yields climbed as British inflation data
solidified expectations of more interest rate rises by central
banks. DATA/EVENTS (GMT)
0115 China Loan Prime Rate 1Y, 5Y April
0645 France Business Climate Mfg, Overall April
0900 EU Total Trade Balance SA Feb
1230 US Initial Jobless Clm Weekly
1230 US Philly Fed Business Indx April
1400 EU Consumer Confid. Flash April
1400 US Existing Home Sales March
(Reporting by Naveen Thukral; editing by Uttaresh
Venkateshwaran)
SINGAPORE, April 20 (Reuters) - Chicago wheat futures
lost more ground on Thursday as supply concerns eased with
inspections of ships carrying Ukrainian grain resuming in the
Black Sea region.
Soybeans fell for a third consecutive session while corn
dipped as agricultural markets faced additional pressure from
weaker crude oil prices.
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