Morning markets: China corn decreased expected crop meeting place

If "Oats knows", the markets are on a bad day.
Chicago is an idea that the grain is like a leading indicator, and in fact was last summer when moisture problems in Canada, a large producer of oats, saw the play in front of other crops.
But the grain had a bad start on Tuesday, falling 2.1% to $ 3.42 ¾ a bushel as of 08:40 GMT, back through his nine-day moving average.
If that is what might be in the offing for the rest, well, the bulls can make do with the loss of less than 1% in other agricultural products had so far.
"Shelf"
In fact, feeling less support that marked the last session it sprouted a little, mostly due to the lack of confirmation of that speculation of China buying U.S. corn.
"Despite the rumors that are circulating, have a shelf life, which may require confirmation in the next couple of days," said Jon Benson Quinn Commodities Michalscheck on.
"Although we have not had confirmation of any business, some in the industry are promoting the sale of the possibility of up to 2 million tons. I think you have to keep selling corn on the half hour."
Phillip Futures, Ker Chung Yang said: "It seems that the confirmation of maize sales to China are required to allow the corn to make another attempt to break the level of $ 7 per bushel.
And indeed, Sinograin, the state grain buyer in China, denied having purchased any foreign grain, sticking to domestic supplies in place.
Against the tide
Goldman Sachs estimates U.S. corn plantings of 92.1m hectares, slightly higher than the current U.S. Department of Agricultureguess, and even more above trade estimates that also continued to weigh on confidence.
The May corn fell 0. 7% to $ 6.82 a bushel, compared with just leaving a technical battle, with an average of 50 days is moved to $ 6.81 a bushel - a fall below which is likely to encourage more sales.
And this in what was a happy day for many risky assets, after Tokyo stocks rebounded by 4.4% overnight, as fears continued to ease the crisis over the nuclear reactor in Fukushima.
Investors seem to have put a lid also concerns the other major macroeconomic problem, the instability of the Middle East and Libya, allowing oil to slip 0.1% to $ 102.20 a barrel, while Brent crude lost 0.3% to $ 114.67 a barrel.
Variety show
But in bad shape corn, wheat grain peers, richer world supplies, had little hope, despite U.S. data showing hard red winter crop in poor form continues and the outlook is not bright for the important spring planting season in the northern U.S. and Canada.
"Canada is looking for a heavy snowfall that hit their pastures new this week that its future canola in the place to start the new week," said Mike Mawdsley on the market.
"Right now, Canada can have a very slow start to planting season."
Chicago Contract May wheat lost 0.6% to $ 7.16 ¾ a bushel, but the grain will outperform other markets.
The batch of May in Kansas, which markets the drought threatens hard red winter variety, fell 0.4% to $ 8.38 ¾ a bushel, while Minneapolis, spring-planted wheat fell 0.1% to 8 $ 68 a bushel.
Back Online
And the soybeans were also lower amid waning hopes for a season-ending race in export demand.
"The slowdown in demand had pressure on the front month contracts, with China imports soybean down 21% in February from the previous year and little to report new sales in the U.S. or South America," said Kim Benson Quinn Rugel.
"The trade seems comfortable with the U.S. [2010-11], ending stocks to 140 bushels in the light of a possible slowdown in global economic growth due to the earthquake and tsunami of stagnation of the world's third largest economy, the least temporarily. "
Covered ground in May from 0.8% to $ 13.51 and a half per bushel.
And this time, the new crop soybean online behaved, falling 0.8% to $ 13.34 a bushel, unlike the last session where the expectations of weak growth of the crops, fed by Goldman Sachs, saw the conclusion of the contract substantially its offer for the spot contract.
Rubber Rebound
For bulls, the rubber was a product entirely on agricultural best, rising 6.1% to 433.90 yen per kilo in Tokyo, driven by reduced concern about the crisis in Japan causing local and global economic difficulties that would curb demand vehicles.
The jump came despite an announcement of Thailand, the largest producer of rubber, it would not intervene in the domestic market, as prices had reached a level considered satisfactory for farmers.