Soybeans yield to fears of weakening US export prospects | Agricultural Commodities


                * Shifting tensions between Russia and Ukraine could threaten exports
* US wheat sales to Egypt add support
* Corn follows lower soybean

(Reformulations; Updates prices, adds quotes, changes rows, changes
dateline of previous SINGAPORE / PARIS)
By Julie Ingwersen
CHICAGO, Nov 26 (Reuters) - US soybean futures fell more
of 2 percent and approached a four-week low Monday on chart based on
sell and worry about the prospects of exporting US supplies
in the midst of a trade war with China, traders said.
Future corn followed soybeans low. But wheat futures rose
fears that Russian-Ukrainian tensions may inhibit grain
exports from the Black Sea
From 12:31 CST (1831 GMT), Chicago Chamber of Commerce
January soybean futures fell 22-1 / 2 cents on
$ 8.58-1 / 2 per bushel after diving to $ 8.57, the contract is
lowest since November 1st.
December CBOT corn fell 3-1 / 4 cents to $ 3.55-3 / 4 a
bushel after hitting $ 3.55-1 / 4, the lowest since September 28, while
December wheat rose 7 cents to $ 5.06-3 / 4 a bushel.
Soybean sell-off accelerated as a benchmark in January
contract fell below graphic support on its 50 day drive
average close to $ 8.72.
Soybeans pressed by fears of prolonged trade war
between the United States and China, by far the largest
importer of soybeans. China buys Brazilian soybeans
during the conflict and can continue to avoid the US.
soybeans, given the expectations of an early harvest in South America.
"The window for US soy exports to China is basically
closed, "said Terry Reilly, senior analyst at Futures
US President Donald Trump and Chinese President Xi
Jingping should meet on the sidelines of a G20 summit
in Argentina this week, and Washington is prepared to raise tariffs
in the amount of US $ 200 billion in Chinese imports to 25 percent of 10
percent in January, if there is no agreement.
"Traders are becoming skeptical about
progress towards a trade agreement with China when President Trump
President Xi have dinner on Friday, "head of INTL FCStone
Commodity economist Arlan Suderman wrote in a customer note.
Wheat futures rose to a second session as news of a
sale of wheat to Egypt and geopolitical tension in the Black Sea
region caused a round of short coverage.
"Tensions between Russia and Ukraine over the weekend
could have an impact on the level of shipments of the port of Mariupol
as facilities are currently subject to increased controls, "
French consultancy Agritel also said.
Mariupol is a grain export center in the Sea of ​​Azov, an
the Black Sea. The area has been at the center of a crisis
between Russia and Ukraine, which began on Sunday after Moscow
prevented three Ukrainian ships from entering the Sea of ​​Azov.

Grain buyer from the state of Egypt last week said he bought 240,000
tonnes of wheat in a proposal on Thursday, with half
the United States. And the US Department of Agriculture in
Monday confirmed a private sale of 120,000 tons of US soft
red winter wheat to Egypt.

CBOT prices from 12: 30h CST (1830 GMT):
Net Pct Volume
Last change of change
Wheat CBOT WZ8 506.75 7.00 1.4 29812
Corn CBOT CZ8 355.75 -3.25 -0.9 226785
Soybean CBOT SF9 858.50 -22.50 -2.6 101366
Soybean meal CBOT SMZ8 301.50 -4.30 -1.4 42009
Sojao CBOT BOZ8 27.00 -0.65 -2.4 57223
NOTE: CBOT corn and corn December and soybean soybean January
shown in cents per bushel, December soybean meal in dollars per short
ton and December soybean oil in cents per lb.

(Additional reporting by Naveen Thukral in Singapore and
Sybille of La Hamaide in Paris; Editing by Richard Pullin and
Edmund Blair)


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