Soybeans ease ahead of USDA stocks report, tariff cuts exclude soy

By Reuters News

BEIJING, Sept 30 (Reuters) - Chicago soybean futures fell on Wednesday as traders adjusted positions ahead of a quarterly stocks report and the end of the month and quarter.

Wheat and corn futures rose, although both contracts were on track for monthly losses.


FUNDAMENTALS

* The most-active soybean contract on the Chicago Board of Trade (CBOT) fell 0.02% to $12.97-1/2 a bushel by 0107 GMT. The contract was up 0.74% for the month.

* Wheat added 0.11% to $6.93-1/2 a bushel and corn rose 0.1% to $5.22-1/2 a bushel. Wheat was down 10.37% for the month, while corn had lost 2.88%.

* China is set to cut tariffs on a broad range of US agricultural goods, from corn and wheat to meat and dairy, but top import item soybeans were excluded from a tariff-reduction list jointly issued by China's commerce ministry and the White House.

* Markets were monitoring US harvesting this week after forecasters said rain will continue to slow progress.

* US farmers have harvested 18% of the corn crop and 17% of soybeans, matching their average pace over the past five years, the US Department of Agriculture said on Monday.

* Farmers are off to a slower start planting the winter wheat crop they will harvest in 2027. US winter wheat plantings were 27% complete as of Sunday, below the five-year average of 34%, USDA said after grain trading ended on Monday.

* The wheat market remained focused on diplomatic efforts to ease disruptions to Black Sea exports, traders said.

* Traders also adjusted positions ahead of the USDA's quarterly stocks report due later today.

* Commodity funds were net buyers of CBOT soy and wheat, traders said on Tuesday.


DATA/EVENTS (GMT)

0130 China NBS Manufacturing PMI Sep

0145 China RatingDog Manufacturing PMI Final Sep

0145 China RatingDog Services PMI Sep

0600 UK GDP QQ, YY Q2

0645 France CPI (EU Norm) Prelim YY, MM Sep

0645 France CPI Prelim YY, MM NSA Sep

0645 France Producer Prices YY Aug

0755 Germany Unemployment Chg, Rate SA Sep

1200 Germany CPI, HICP Prelim YY Sep

1230 US Consumption, Adjusted MM Aug

1230 US Core PCE Price Index MM, YY Aug

1230 US PCE Price Index MM, YY Aug

1230 US GDP Final Q2

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