GRAINS-Wheat firms for first time in three sessions

SYDNEY, Sept 6 – U.S. wheat futures edged higher for the first time in three sessions on Thursday, although gains were checked as export prospects for North American supplies were restrained by ample global supplies. FUNDAMENTALS * The most active wheat futures on the Chicago Board Of Trade rose 0.2 percent to $5.22-3/4 a bushel by 0031 GMT, having closed down 1.8 percent on Wednesday. * The most active soybean futures were up 0.2 percent to $8.40 a bushel, after closing down 0.7 percent on Wednesday. * The most active corn futures were up 0.3 percent to $3.66-1/4 a bushel, having closed down 0.8 percent in the previous session. * The U.S. Department of Agriculture pegged 67 percent of corn in good or excellent condition, below average analyst expectations calling for an unchanged 68 percent. * Egypt’s state grains buyer, the General Authority for Supply Commodities bought 60,000 tonnes of Russian wheat in an international purchase tender. No U.S. wheat had been offered in the tender. MARKET NEWS * The dollar retreated modestly against a basket of major currencies on Wednesday as sterling and the euro rose following a Bloomberg report that the German and British governments had abandoned key Brexit demands, potentially easing the path for a divorce deal. * Oil prices fell more than one percent on Wednesday after a U.S. Gulf storm weakened and moved away from oil-producing areas and as concerns mounted about global trade disputes and Turkey’s currency crisis hurting demand. * The Nasdaq fell more than 1 percent on Wednesday, dented by technology stocks after Facebook Inc and Twitter Inc executives defended their companies before skeptical U.S. lawmakers. Grains prices at 0031 GMT Contract Last Change Pct chg Two-day chg MA 30 CBOT wheat 522.75 1.00 +0.19% -1.65% 556.32 CBOT corn 366.25 1.00 +0.27% -0.54% 373.08 CBOT soy 840.00 2.00 +0.24% -0.50% 874.30 CBOT rice 10.86 $0.05 +0.46% +0.23% $10.97 WTI crude 68.51 -$0.21 -0.31% -1.95% $68.16 Currencies Euro/dlr $1.165 $0.002 +0.14% +0.55% USD/AUD 0.7199 0.001 +0.14% +0.31% Most active contracts Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight RSI 14, exponential (Reporting by Colin Packham; editing by Richard Pullin)

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