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Wheat slips again on ample world supply; corn, soy resume slideWheat slips again on ample world supply; corn, soy resume slideReuters | Aug 3, 2017, 05:20 PM IST* CBOT wheat near 1-month lows, Euronext sees contract lows * Big-looking Russian harvest tempers U.S. crop woes * Corn, soy give up day-earlier gains, mild weather weighs (Updates with European trading, changes byline/dateline) By Gus Trompiz and Naveen Thukral PARIS/SINGAPORE, Aug 3 (Reuters) - Chicago wheat futures extended losses for a fourth consecutive session on Thursday to trade near a one-month low as the prospect of a bumper Russian harvest underscored ample global supplies despite an expected sharp fall in U.S. output. Corn and soybean prices also eased, hitting new one-month lows after a day-earlier rebound petered out, with mild weather forecasts for the Midwest crop belt reducing concerns about yield losses. The Chicago Board of Trade most-active wheat contract lost 0.9 percent to $4.56-1/2 a bushel by 1121 GMT, holding just above Wednesday's low of $4.55-3/4, the weakest since late June. In Europe, the most active December wheat futures on Euronext fell to a contract low of 168.50 euros a tonne, with a day-earlier 2-1/2 year high for the euro against the dollar also weighing. Talk of a record Russian crop has tempered concern about poor conditions for U.S. spring wheat, which fuelled an early summer rally on wheat markets. "The Russian production has been revised up ... and is offsetting for now the dry conditions in the U.S., Canada and Australia," consultancy Agritel said in a note. Russian agriculture consultancy IKAR on Tuesday increased its estimate for this year's wheat harvest in Russia to a record 74-77 million tonne range. Continued: http://timesofindia.indiatimes.com/business/international-business/wheat-slips-again-on-ample-world-supply-corn-soy-resume-slide/articleshow/59899709.cms
