SYDNEY, Oct 17: U.S. Corn futures edged lower for a second session on Thursday as forecasts for dry weather, which is expected to allow farmers to accelerate the harvest, weighed on prices.
FUNDAMENTALS
* Chicago Board Of Trade December corn fell 0.1 percent to $4.42-1/4 a bushel, having slipped 0.3 percent in the previous session.
* November soybeans rose 0.4 percent to $12.81-1/4 a bushel, having firmed 0.9 percent on Wednesday.
* December wheat was little changed at $6.81-1/4 a bushel, having closed down 0.6 percent on Wednesday.
* China, the world’s second-largest corn consumer, has bought as much as 300,000 tonnes of the grain from the United States this week, trade sources said.
* Clear harvest weather expected over the next two weeks should allow many Midwest farmers to finish gathering a bumper U.S. Soybean crop and probably a record-large corn crop.
* Soybeans supported by technical buying, analysts said.
* The U.S. Senate approved a deal to end a political crisis that partially shut down the federal government and brought the world’s biggest economy to the edge of a debt default that could have threatened financial calamity.
MARKET NEWS
* The dollar tested three-week highs against the yen in early Asian trade on Thursday, buoyed by hopes that a pending U.S. Senate vote would help bring the U.S. Fiscal standoff and government shutdown to an end.
* Crude oil futures rose on Wednesday as it appeared Congress was close to an 11th-hour deal to raise the government’s debt ceiling and prevent a default.
* U.S. Stocks closed more than 1 percent higher on Wednesday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling, which would avoid the threat of a debt default.
(AGENCIES)
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