18/01/2017 (Reuters) - U.S. soybean prices rose more than 1 percent on Tuesday to hit their highest in seven weeks, buoyed by forecasts of lower-than-expected U.S. output.
            
    FUNDAMENTALS 
* The most active soybean futures on the Chicago Board of Trade climbed 1.36 percent to $10.59-1/2 a bushel, after earlier touching their highest since Nov. 28 at $10.62-1/4. The oilseed firmed 0.58 percent on Friday, with markets closed on Monday for a U.S. public holiday.

* The most active corn futures rose 0.63 percent to $3.60-3/4 a bushel, the strongest since Jan. 6. Corn closed little changed in the previous session.

* The most active wheat futures fell 0.12 percent to $4.25-1/2 a bushel, having ended Friday up 1.8 percent.

* The U.S. Department of Agriculture last week trimmed its estimates for 2016/17 U.S. soybean yields, production and ending stocks by more than anticipated.

* The USDA said early on Friday that private exporters reported the sale of 132,000 tonnes of soybeans for delivery to unknown destinations.

* Wheat continues to draw support from smaller-than-expected estimates of U.S. winter wheat sowings, with the USDA pegging levels at their lowest in more than a century.
        
    MARKET NEWS 
* The British pound flirted with a three-month low on Tuesday, hit by fears that Prime Minister Theresa May's speech later in the day will set Britain on course to lose access to the lucrative European Union single market. 

* The Nasdaq marked a record high on Friday, while the S&P 500 also rose.  

    DATA AHEAD (GMT)

1430   Britain        Consumer prices                  Dec

1430   Britain        Producer prices                  Dec

1600   Germany        ZEW economic sentiment           Jan

1830   U.S.           New York Fed manufacturing       Jan

   

   

 Grains prices at  0149 GMT

 Contract        Last   Change   Pct chg  Two-day chg   MA 30  RSI

 CBOT wheat    425.50    -0.50    -0.12%       -0.18%  412.10    65

 CBOT corn     360.75     2.25    +0.63%       +0.70%  355.69    64

 CBOT soy     1060.50    14.25    +1.36%       +1.95%  1026.8    76

                                                            8 

 CBOT rice       9.92    $0.02    +0.20%       -0.60%   $9.79    72

 WTI crude      52.51    $0.14    +0.27%       -0.94%  $52.36    48

 Currencies                                                       

 Euro/dlr      $1.060   $0.000    +0.02%       -0.37%             

 USD/AUD       0.7468   -0.001    -0.09%       -0.41%             

 Most active contracts

 Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight

 RSI 14, exponential