SINGAPORE, March 11 (Reuters) - Chicago soybean futures
slid for a third consecutive session on Tuesday, with prices
dropping to their lowest in almost a week amid worries over
demand in top importer China.
Wheat and corn also fell.
FUNDAMENTALS
* The most-active soybean contract on the Chicago Board of
Trade (CBOT) lost 0.3% to $10.10-3/4 a bushel as of 0014
GMT. It had dropped to its lowest since March 5 at $10.10 a
bushel earlier in the session.
* Wheat fell 0.6% to $5.59-1/4 a bushel and corn
gave up 0.2% to $4.71 a bushel.
* China's consumer price index in February missed
expectations and fell at the sharpest pace in 13 months, while
producer price deflation persisted. This has heightened concerns
over soybean demand in China, by far the world's top importer.
* Market players are waiting for the U.S. Department of
Agriculture monthly supply/demand report due later in the day.
The report will consider trade policies in place when the
forecasts for grains and soybeans are issued, an agency official
said on Thursday.
* Russian wheat export prices continued to decline for the
second week in a row, but they have yet to regain
competitiveness against European grains.
* Traders also were keeping a close eye on concerns about
dryness in U.S. and Russian crop belts - particularly in parts
of the U.S. southern plains, where hard red wheat crops are
growing and will need moisture.
* However, India is likely to produce a record 115.4 million
metric tons of wheat in 2025, the farm ministry said on Monday,
as higher state-set guaranteed prices prompted farmers to expand
the area planted with high-yielding seed varieties.
* Commodity funds were net buyers of CBOT corn and wheat
futures contracts on Monday, and net sellers of soybean, soymeal
and soyoil futures, traders said.
MARKET NEWS
* Stocks slumped globally on Monday, while U.S. bond yields
dropped as investor worries about the potential economic
slowdown were exacerbated after President Donald Trump did not
rule out a recession resulting from his tariffs.
DATA/EVENTS
No major data/events expected for Tuesday, March 11