SINGAPORE, May 17 (Reuters) - Chicago corn futures slid for
a fourth session on Monday with the market dropping to its
lowest in nearly three weeks on long liquidation and easing
concerns over supplies.
Wheat fell more than 1% while soybeans also lost ground.
* The most-active corn contract on the Chicago Board Of
Trade (CBOT) was down 0.7% at $6.39-1/4 a bushel by 0120
GMT, after hitting its lowest since April 28 at $6.34 a bushel
earlier in the session.
* Wheat fell 1.1% to $6.99 a bushel and soybeans
gave up 0.3% to $15.81 a bushel.
* Large speculators cut their net long position in CBOT corn
futures in the week ended May 11, regulatory data released on
* The Commodity Futures Trading Commission's weekly
commitments of traders report also showed that non-commercial
traders, a category that includes hedge funds, increased their
net short position in CBOT wheat and cut their net long position
* The U.S. Department of Agriculture (USDA) last week
projected corn stocks at the end of the 2021/22 marketing year
at 1.5 billion bushels, above most analysts' expectations and up
from 1.257 billion expected to remain at the end of 2020/21.
* Private analytics firm IHS Markit Agribusiness projected
U.S. 2021 corn plantings at 96.8 million acres, up significantly
from the USDA's current forecast of 91.1 million acres.
* Brazil is on track to sell the largest volume of soybeans
to the United States since 2014, according to shipping data from
maritime agent Cargonave, as the nation helps Americans fill a
momentary supply gap.
* Ukrainian farms have almost completed 2021 early spring
grain sowing, seeding more than 1.9 million hectares (4.7
million acres) of various crops, as of May 13, the agriculture
ministry said on Friday.
* The area included 1.33 million hectares of barley, 229,600
hectares of peas, 186,800 hectares of oats and 174,700 hectares
of spring wheat, the ministry said in a statement.
* Asian shares edged cautiously higher on Monday catching
the tailwind from a bounce on Wall Street and ahead of what are
expected to be upbeat readings on the Chinese economy, though
any disappointment could quickly chill the mood.
DATA/EVENTS AHEAD (GMT)
0200 China Urban Investment (YTD) YY April
0200 China Industrial Output YY April
0200 China Retail Sales YY April
1000 EU Reserve Assets Total April
1600 Russia GDP YY Quarterly Prelim Q1
(Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)