BEIJING, June 30 (Reuters) – Chicago corn fell on Thursday, weighed down by increased chances of rain in growing areas in the United States.

Wheat and soybeans also fell.

Traders were also watching a government crop report on Thursday and adjusted their positions ahead of it.

FUNDAMENTALS

* The most-active corn contract on the Chicago Board of Trade (CBOT) fell 0.42% to $6.51 a bushel.

* Wheat fell 0.59% to $9.24-3/4 a bushel and soybeans edged down 0.02% to $17. If you loved this article and also you would like to collect more info regarding slot online deposit pulsa 10rb tanpa potongan kindly visit the web site. 48 a bushel.

* Traders expect the U.S.

Department of Agriculture (USDA) to raise its estimate of domestic corn plantings in its acreage and stocks report to be released on Thursday. USDA was also expected to cut its estimates on soybean and spring wheat planting acreage in the report.

* Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), bought 815,000 tonnes of mainly French wheat in a tender, marking its biggest single purchase in years as prices slightly ease.

* Argentina’s major farm groups called for a trade strike to pressure the government to do more as frustration over crippling shortages of diesel and fertilizers weighs on the country’s key agricultural sector.

* The U.S.

soybean crush likely totalled 5.457 million short tons in May, or 181.9 million bushels, according to a Reuters poll, which would be above the 180.9 million bushels processed in April and up from the 173.5 million bushels crushed in the same month last year.

* A truck driver protest in Argentina is slashing the number of freight vehicles carrying grains to the country’s main port on Wednesday, threatening exports and milling.

* Brazil 2021/2022 total corn crop was seen at 116.10 million tonnes, vs.

114.35 million tonnes in previous forecast, according to Datagro.

* The Russia-focused Sovecon agriculture consultancy raised its forecast for Russia’s July-June wheat exports by 300,000 tonnes to a new record high of 42.6 million tonnes.

* Russia said on Wednesday it was ready to work with the United Nations to combat the risks of a global food crisis, and was willing to meet its obligations to export food and fertilisers.

* The U.S.

Department of Agriculture (USDA) cut its rating of the country’s corn crop in good-to-excellent shape to 67% in its weekly crop progress report, down 3 percentage points from a week ago and below the average of estimates in a Reuters poll.

* Commodity funds were net buyers of Chicago Board of Trade soybean, soymeal and soyoil futures contracts on Wednesday; net sellers of wheat futures contracts; and net even in corn, traders said.

MARKET NEWS

* U.S.

Treasury yields eased for a second consecutive day and the dollar rose, after Federal Reserve Chairman Jerome Powell said there is a risk the U.S. central bank’s interest rate hikes will slow the economy too much, but the bigger risk is persistent inflation.

DATA/EVENTS (GMT) 0130 China NBS Manufacturing PMI June 0600 UK GDP QQ, YY Q1 0600 UK Nationwide House Price MM, YY June 0645 France CPI (EU Norm) Prelim YY June 0755 Germany Unemployment Rate, Chg SA June 0900 EU Unemployment Rate May 1230 US Consumption, Adjusted MM May 1230 US Initial Jobless Clm Weekly (Reporting by Hallie Gu and Dominique Patton; Editing by Rashmi Aich)