SYDNEY, Feb 1 (Reuters) - U.S. soybean prices rose more than
0.5 percent on Friday amid heightened hopes for a trade deal
between Washington and Beijing, although the oilseed was still
on course to post a fall for the week. FUNDAMENTALS * The most active soybean futures on the Chicago Board Of
Trade were down nearly 0.5 percent for the week, set for
the first weekly loss in three weeks. * The most active corn futures edged up slightly on
Friday but were down nearly 1 percent for the week, heading for
a second straight weekly loss. * The most active wheat futures dipped slightly to be
down nearly 1 percent for the week, facing the biggest weekly
loss in six weeks. * China's trade delegation said the latest round of talks
with the United States made "important progress" for the current
stage, China's official Xinhua news agency reported on Friday. * U.S. President Donald Trump said on Thursday he will meet
with Chinese President Xi Jinping soon to try to seal a
comprehensive trade deal as Trump and his top trade negotiator
both cited substantial progress in two days of high-level talks. * Corn was pressured in part by the Buenos Aires Grains
Exchange raising its estimate of Argentina's corn crop to 45
million tonnes, from 43 million previously, citing
better-than-expected yields. * The U.S. Department of Agriculture (USDA) reported export
sales of U.S. corn in the week to Dec. 20 at 1.75 million tonnes
(old and new crop years combined), above trade expectations for
1.050 million to 1.6 million tonnes. * Wheat supported by worries over dry weather in Australia.
Its western coast is facing hot, dry weather over the next three
months, the country's meteorology bureau said, denting the
outlook for wheat production in the world's fourth-largest
exporter. MARKET NEWS * The Australian and New Zealand dollars held steady versus
the greenback on Friday, as the Federal Reserve's more dovish
stance and improved prospects for a U.S.-Sino trade deal boosted
investor risk appetite. * Oil prices rose on Friday, lifted by OPEC's supply cuts
and hopes the United States and China could soon settle their
trade disputes. * Wall Street ascended on Thursday, with the S&P 500
wrapping up its biggest monthly increase since 2015 after strong
earnings from Facebook Inc added to optimism after the
Federal Reserve's dovish remarks. DATA/EVENTS (GMT)
0855 Germany Markit/BME Mfg PMI Jan
0900 EU Markit Mfg Final PMI Jan
0930 Britain Markit/CIPS Mfg PMI Jan
1000 EU HICP Flash Jan
1100 Brazil Industrial Output Dec
1330 US Non-Farm Payrolls Jan 1330 US Unemployment Rate Jan
1330 US Average Earnings Jan
1500 US ISM Manufacturing PMI Jan Grains prices at 0208 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 515.75 -0.75 -0.15% -0.19% 516.00 42 CBOT corn 377.00 0.50 +0.13% -1.11% 378.03 47 CBOT soy 921.50 6.25 +0.68% +0.05% 909.22 61 CBOT rice 10.62 $0.01 +0.09% -0.09% $10.58 50 WTI crude 53.61 -$0.18 -0.33% -1.14% $49.96 59 Currencies Euro/dlr $1.144 $0.000 -0.01% -0.30% USD/AUD 0.7246 -0.003 -0.36% +0.00% 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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