© Archyde.com/Bryan Woolston
FILE PHOTO-Soybeans are harvested in a field at the Hodgen farm in Roachdale, Indiana, United States.
Por Christopher Walljasper
April 6 (Archyde.com) – Chicago soybeans and corn fell on Wednesday, consolidating after two days of gains, as traders eye U.S. weather and planting, while wheat traded mixed to the awaits new sanctions against Russia after reports of civilian deaths in Ukraine.
* The most active soybeans on the Chicago Board of Trade (CBOT) fell 11.50 cents to $16.1950 a bushel. Wheat for May fell 4.75 cents to $10.4075, while more active corn lost 3.25 cents to $7.5650 a bushel.
* “Given the strong gains of the past two days, we are reversing course,” said Tom Fritz, a commodity trader at EFG Group.
* May soybeans fell to their 50-day moving average, after closing above the technical level the day before. Corn remained above its 20-day moving average.
* The weather in the United States is in the spotlight, as lower-than-expected corn plantings against a backdrop of rising fertilizer costs leave little room for production problems in the Northern Hemisphere.
* Weather forecasts showed little rain for the next two weeks for winter wheat in the dry plains of the American Southwest, although northern spring wheat areas were expected to receive some rain.
* Financial markets were eyeing further planned Western moves against Moscow following reports of civilian deaths on Ukrainian territory previously held by the Russian military.
* Wheat remains supported by global supply fears as countries continue to restrict exports and protect local grocery stores.
(Reporting by Christopher Walljasper; Additional reporting by Gus Trompiz in Paris and Enrico Dela Cruz in Manila, Editing in Spanish by Manuel Farías)