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GRAINS-Corn flat as USDA planting report weighs on market

by Caleb Hamm (2020-09-01)


SYDNEY, judi slot April 28 (Reuters) - U.S. corn futures were flat on Tuesday after a widely watched U.S. Department of Agriculture report showed that North American farmers had rapidly advanced sowing. FUNDAMENTALS * The most active corn futures on the Chicago Board Of Trade were unchanged at $3.13-1/4 a bushel by 0158 GMT, having closed down 3% in the previous session. * The most active soybean futures were up 0.1% at $8.37-1/2 a bushel, having closed up 0.4% on Monday * The most active wheat futures were up 0.4% at $5.27 a bushel, having closed down 1.1% on Monday, daftar slot when prices hit the March 19 low of $5.21-1/4 a bushel.

* The U.S. Department of Agriculture said U.S. farmers were able to plant 27% of their intended corn acres as of Sunday, above the average of analyst estimates of 22% in a Reuters poll. * The USDA's figure was up from 7% a week earlier and surpassed the five-year average of 20%. * U.S. farmers planted 8% of their intended soybean acreage by Sunday, the USDA said, matching the soybean estimate in the Reuters poll. * Russia confirmed it would not halt exports at the end of this season until all grain booked under a now-filled quota had been shipped.

MARKET NEWS * The U.S. dollar fell across the board on Monday as several countries laid out plans to ease restrictions on businesses that have been closed due to the novel coronavirus outbreak, boosting risk appetite and reducing demand for the safe-haven U.S. currency. * Oil fell on Tuesday, adding to huge declines in the previous session, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased.

* A rally in U.S. Wall Street gained more than 1% on Monday at the onset of a hectic earnings week, situs slot as investors turned a hopeful eye toward several U.S. states that are relaxing shutdown restrictions put in place to curb the spread of the COVID-19 pandemic. (Reporting by Colin Packham; Editing by Aditya Soni)