{"id":145973,"date":"2023-02-07T08:00:00","date_gmt":"2023-02-07T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=913357"},"modified":"2023-02-07T08:00:00","modified_gmt":"2023-02-07T00:00:00","slug":"grains-soybeans-firm-with-crop-data-in-focus","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/02\/07\/grains-soybeans-firm-with-crop-data-in-focus\/","title":{"rendered":"GRAINS-Soybeans firm with crop data in focus"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

*
\nUSDA world crop report, Canada stocks estimates eyed
\n*
\nSouth American weather in focus for soy, corn
\n*
\nMarket also watching for Fed chief's comments
\n(Updates with European trading, changes byline\/dateline)
\nBy Gus Trompiz and Matthew Chye
\nPARIS\/SINGAPORE, Feb 7 (Reuters) - Chicago soybean futures inched higher on Tuesday, drawing support from stronger vegetable oil prices as participants awaited U.S. government crop forecasts for a latest gauge of South American harvest prospects.
\nCorn and wheat edged lower as attention turned to Wednesday's U.S. Department of Agriculture (USDA) monthly world crop report.
\nInvestors were also waiting for a speech by U.S. Federal Reserve Chair Jerome Powell later on Tuesday for further clues on interest rate policy.
\nThe most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.5% at $15.29-1\/2 a bushel by 1222 GMT.
\nSoyoil futures were higher, tracking strength in palm oil after Indonesia said it would suspend some export permits, while soymeal eased as traders assessed rain forecasts for drought-affected Argentina.
\nThe market is also factoring in an expected record crop in Brazil, though early harvesting has been slowed by heavy rain.
\n\"The next 36 hours are a countdown to Wednesday's WASDE fireworks,\" Peak Trading Research said in a note, referring to the USDA's February World Agricultural Supply and Demand Estimates (WASDE).
\n\"Traders will be watching South American crop estimates and China demand numbers.\"
\nGrain markets will also get a supply update on Tuesday from official Canadian stocks estimates.
\nCBOT corn ticked down 0.3% to $6.77-1\/4 a bushel while wheat eased 0.3% to $7.48 a bushel.
\nThe corn market is also seeking a clearer picture on South American harvest potential, as well as the next planting season in the United States, where farmers are planning to boost corn acreage.
\nForecast rains in some U.S. growing zones were capping wheat prices, though part of the Plains hard red winter belt was seen staying dry.
\nThe wheat market was also awaiting results from two international tenders issued by Algeria as a further indication of competition from Black Sea supplies. (Reporting by Gus Trompiz in Paris and Matthew Chye in Singapore; Editing by Subhranshu Sahu and Tomasz Janowski)
\n\u00a9 Copyright Thomson Reuters 2023. Click For Restrictions - http:\/\/about.reuters.com\/fulllegal.asp<\/p>\n

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

*
\nUSDA world crop report, Canada stocks estimates eyed
\n*
\nSouth American weather in focus for soy, corn
\n*
\nMarket also watching for Fed chief's comments
\n(Updates with European trading, changes byline\/dateline)
\nBy Gus Trompiz and Matthew Chye
\nPARIS\/SINGA…<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[934,692,144,69,194,484],"tags":[10500,2211,2636,3009,10352,3556,2724,2214,10315,7571,8694,1859,10412,3479,10330],"class_list":["post-145973","post","type-post","status-publish","format-standard","hentry","category-agriculture","category-canada","category-china","category-copyright","category-news-chinese-law","category-united-states","tag-algeria","tag-argentina","tag-brazil","tag-chicago","tag-european","tag-export","tag-exports","tag-indonesia","tag-media-intelligence","tag-oil","tag-paris","tag-singapore","tag-soybean","tag-stocks","tag-weather"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=145973"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145973\/revisions"}],"predecessor-version":[{"id":145974,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/145973\/revisions\/145974"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=145973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=145973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=145973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}