SINGAPORE, Sept 22 (Reuters) - Chicago corn futures bounced
back on Tuesday, after suffering their biggest one-day loss in
almost seven weeks in the previous session, as expectations of
strong Chinese demand supported prices.
Still, improved U.S. crop ratings and harvest pressure kept
a lid on prices.
* The most-active corn contract on the Chicago Board of
Trade (CBOT) rose 0.3% to $3.70-3/4 by 0031 GMT, after
dropping 2.3% in the last session, the biggest daily loss since
* Soybeans added 0.3% to $10.25-1/2 a bushel and wheat
gained 0.3% at $5.56-1/2 a bushel.
* China has stepped up purchases of U.S. corn and soybeans
with demand for animal feed recovering.
* The USDA said private exporters reported the sale of
132,000 tonnes of soybeans to China. There were also soybean
sales to Pakistan and unknown destinations.
* Condition ratings for the U.S. corn crop improved during
last week and soybean ratings held steady, while the harvest of
both crops was underway, the U.S. Department of Agriculture
(USDA) said after the market closed on Monday.
* The USDA rated 61% of the corn crop in "good-to-excellent"
condition, up from 60% a week earlier, bucking analyst
expectations for a 1-point decline.
* High demand from importers and concerns over the winter
harvest drove Ukraine's 2020 export prices for 12.5% protein
milling wheat around $9 per tonne higher over the last week,
APK-Inform agriculture consultancy said on Monday.
* Egypt's General Authority for Supply Commodities set a
tender on Monday to buy an unspecified amount of wheat from
global suppliers for shipment Nov. 21-30.
* Commodity funds were net sellers of CBOT corn, wheat,
soybean, soyoil and soymeal futures contracts on Monday, traders
* Asian shares opened weaker on Tuesday on concerns about
new pandemic lockdowns in Europe and after reports about
financial institutions allegedly moving illicit funds hurt
global banking stocks.
1400 US Existing Home Sales Aug
1400 EU Consumer Confid. Flash Sept
(Reporting by Naveen Thukral, Editing by Sherry Jacob-Phillips)