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GRAINS-Soybeans extend losses, U.S.-China trade talks ease pressure – Reuters Africa

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    SYDNEY, Feb 14 (Reuters) - U.S. soybean futures edged lower
for a second consecutive session on Thursday, though losses were
checked by growing hopes that Washington and Beijing will seal a
trade deal. 
         
    FUNDAMENTALS  
    * The most active soybean futures on the Chicago Board Of
Trade fell 0.1 percent to $9.15-1/4 a bushel by 0201 GMT,
having closed down 0.1 percent on Wednesday.
    * The most active corn futures declined 0.3 percent to
$3.77-1/2 a bushel, having closed up 0.1 percent in the previous
session.
    * The most active wheat futures were down 0.2 percent
at $5.21 a bushel, having closed up 0.4 percent on Wednesday. 
    * U.S. Treasury Secretary Steven Mnuchin said on Wednesday
trade talks with China were progressing well, a day after
President Donald Trump cheered investors by saying he could let
the March 1 deadline for a trade agreement with China "slide for
a little while.
    * Argentina's soy crop is expected to reach 52 million
tonnes during the 2018-19 season, up from 50 million tonnes
previously forecast, the Rosario Grains Exchange said on
Wednesday.
         
    MARKET NEWS  
    * The dollar held near 3-month highs against the euro on
Thursday, benefiting from sustained strength in core U.S.
inflation and weak data out of Europe.  
    * Oil prices inched up on Thursday, buoyed by hopes that
potential progress in the latest Sino-U.S. tariff talks would
improve the global economic outlook.  
    * Wall Street closed higher on Wednesday as investor
optimism was stoked over hopes the United States and China could
iron out a trade deal, and benign inflation data suggested the
Federal Reserve would hold interest rates steady in the near
term.  
    
    DATA/EVENT AHEAD (GMT)
0001  Britain RICS Housing Survey  Jan
*0200  China  Prelim Trade  Jan
0700  Germany  GDP Flash  Q4
1000  Euro Zone  GDP Flash Estimate  Q4
1330  U.S.  Initial Jobless claims  w/e Feb. 9
1330  U.S.  PPI Final Demand  Jan
1330  U.S.  Retail Sales  Dec
1500  U.S.  Business Inventories  Nov
Bank of England policymaker Jan Vlieghe to deliver a speech on
the outlook for the economy in Britain and globally
* No precise release time

 Grains prices at  0201 GMT
 Contract      Last   Change  Pct chg  Two-day chg   MA 30   RSI 
 CBOT wheat  521.00    -1.25   -0.24%       +0.19%  518.70     52
 CBOT corn   377.50    -1.25   -0.33%       -0.20%  378.43     47
 CBOT soy    915.25    -1.25   -0.14%       -0.25%  914.60     48
 CBOT rice    10.26    $0.00   +0.00%       -0.10%  $10.58     27
 WTI crude    54.16    $0.26   +0.48%       +2.00%  $52.41     61
 Currencies                                                      
 Euro/dlr    $1.127   $0.000   +0.02%       -0.50%               
 USD/AUD     0.7102    0.001   +0.20%       +0.13%               
 Most active contracts
 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
 RSI 14, exponential
 
 (Reporting by Colin Packham; Editing by Shreejay Sinha)