GRAINS-Soybeans slip; potential crop loss in North America caps fall

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    SYDNEY, Oct 15 (Reuters) - U.S. soybean futures edged lower
on Tuesday, retreating from a 16-month high touched in the
previous session, though the fall was checked by concerns of
potential crop losses in a major North American producing region
following adverse weather.
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade were down 0.3% at $9.37-1/2 a bushel by 0004 GMT,
having firmed 0.5% on Monday when prices hit a June 13, 2018
high of $9.46 a bushel.
    * The most active corn futures were down 0.2% to $3.97
a bushel, having closed unchanged in the previous session after
earlier hitting a Aug 12 high of $4.03 a bushel.
    * The most active wheat futures were down 0.4% at
$5.08-3/4 a bushel, having closed up 0.2% on Monday when prices
hit a July 19 high $5.15 a bushel.
    * Market awaits news about potential crop damage following
cold weather over the U.S. Midwest in recent days.
    * The U.S. Department of Agriculture (USDA) in a monthly
report last week cut its forecasts of U.S. 2019/20 soybean
production and ending stocks more than most analysts expected. 
    * The government projected that stocks would fall to 460
million bushels by end-August 2020, from 913 million bushels a
year earlier.
    * At the same time, the USDA raised its U.S. corn yield
estimate, bucking trade expectations for a reduction.
         
    MARKET NEWS  
    * The U.S. dollar rose on Monday, after two days of losses,
attracting safe-haven bids, as optimism waned about a trade deal
between the United States and China, and investors fretted about
the ongoing twists and turns on Britain's exit from the European
Union.  
    * Oil prices lost about 2% on Monday on worries that global
crude demand could stay under pressure as few details about the
first phase of a U.S.-China trade deal did little to assure a
quick resolution to the tariff fight.  
    * Wall Street edged lower on Monday as uncertainties
following recent U.S.-China trade negotiations clouded sentiment
and investors turned their focus on the third-quarter earnings
season, which begins in earnest on Tuesday.  
    
    DATA/EVENTS AHEAD (GMT)
0130  China      PPI YY                               Sept
0130  China      CPI YY                               Sept
0400  Indonesia  Trade Balance                        Sept
0645  France     CPI (EU Norm) Final MM, YY           Sept
0830  UK         Claimant Count Unemployment Change   Sept
0830  UK         ILO Unemployment Rate                Aug
0830  UK         Bank of England publishes record of October
                 Financial Policy Committee meeting 
0900  Germany    ZEW Economic Sentiment               Oct
0900  Germany    ZEW Current Conditions               Oct
1800  EU         Reserve Assets Total                 Sept
        
 Grains prices at  0004 GMT
 Contract      Last  Change  Pct chg  Two-day chg    MA 30   RSI 
 CBOT wheat  508.75   -2.25   -0.44%       +3.19%   485.21     67
 CBOT corn   397.00   -0.75   -0.19%       +4.40%   375.41     64
 CBOT soy    937.50   -3.00   -0.32%       +1.52%   896.11     77
 CBOT rice    11.99   $0.00   +0.00%       -0.42%   $12.02     58
 WTI crude    53.44  -$0.15   -0.28%       -2.30%   $55.67     45
 Currencies                                                      
 Euro/dlr    $1.102  $0.000   -0.05%       -0.15%                
 USD/AUD     0.6770   0.000   -0.06%       -0.25%                
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
    

 (Reporting by Colin Packham; Editing by Rashmi Aich)
  

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