CANBERRA, June 16 (Reuters) - U.S. corn futures rose nearly
1% on Wednesday, underpinned by concerns about potential yield
losses from recent unfavourable weather.
* The most-active corn futures on the Chicago Board Of Trade
were up 0.8% at $6.72-1/2 a bushel, as of 0140 GMT, having
closed up 1.3% in the previous session, when prices hit a May 27
low of $6.46-3/4 a bushel.
* The most-active soybean futures were up 0.2% at
$14.69-1/2 a bushel, having closed down 0.4% on Tuesday.
* The most-active wheat futures were up 0.5% at
$6.64-1/2 a bushel, having closed down 1.9% on Tuesday.
* More favourable weather is expected across the Midwest,
easing the threat on crops.
* The U.S. Department of Agriculture (USDA) late on Monday
rated 68% of the U.S. corn crop as good to excellent, down four
points from the previous week, and 62% of the soybean crop as
good to excellent, down five points.
* The National Oilseed Processors Association (NOPA) said
its members crushed 163.5 million bushels of soybeans in May, up
from 160.3 million in April but below an average of analyst
expectations for 165.1 million bushels.
* The U.S. wheat harvest was only 4% complete by Sunday, the
USDA said, lagging the five-year average of 15%.
* The dollar held near a one-month high against a basket of
currencies as investors tried to ascertain if the Federal
Reserve might alter the language on its stimulus following a
recent jump in U.S. inflation.
* Oil prices rose nearly 2% to their highest in more than
two years on Tuesday, buoyed by expectations demand will recover
rapidly in the second half of 2021.
* Investors retrenched and avoided major risks across
multiple markets on Tuesday as markets awaited fresh guidance
from the U.S. Federal Reserve on Wednesday.
(Reporting by Colin Packham; Editing by Subhranshu Sahu)