JAKARTA, May 8 (Reuters) - Wheat rose on Wednesday amid reports of demand from international buyers, while soybeans and corn extended losses to a second straight session as investors gauged the impact of harsh weather in some major production zones.
FUNDAMENTALS
* The most-active wheat contract on the Chicago Board of Trade (CBOT) was up 0.16% to $6.43-3/4 a bushel by 0047 GMT.
* Corn lost 0.21% to $4.66 a bushel, while soybeans lost 0.4% to $12.41-1/2 a bushel.
* A group of crop experts on Tuesday projected Oklahoma's 2024 winter wheat harvest at 89.161 million bushels, with an average yield of 33.68 bushels per acre, up from the state's 2023 harvest of 68.6 million bushels, according to the U.S. Department of Agriculture.
* Heavy flooding in southern Brazil has hit food storage facilities in lower areas while hampering the shipping of grains to port, jeopardizing the nation's exports and wreaking havoc to the economy of Rio Grande do Sul state, a large soy, rice, wheat and meat producer.
* Brazilian government is preparing a temporary measure to authorize the national crop agency (Conab) to import 1 million tonnes of rice to control prices after deadly floods in recent days hit many crops in Rio Grande do Sul.
* Grain export quota for one of Russia's largest grain trader Rodnie Polya, formerly known as TD RIF, has been reduced by 1.2 million tons to 2.78 million tons for the current marketing year amid a row with authorities over phytosanitary issues, a ministry order published on Tuesday showed.
* Canadian stocks of wheat, corn and oats were down at the end of March 2024 compared to the same date in 2023, according to a farm survey by Statistics Canada released on Tuesday.
* Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), is seeking wheat in an international tender for shipment between June 7-17 and/or June 18-28.
* Jordan's state grain buyer is believed to have made no purchase in an international tender to buy 120,000 metric tons of milling wheat on Tuesday and a new tender is expected to be issued in coming days closing on May 14, European traders said.
* A South Korean animal feed producer has purchased an estimated 68,000 metric tons of animal feed corn to be sourced from South America in an international tender on Tuesday, European traders said.
* Japan's Ministry of Agriculture, Forestry and Fisheries (MAFF) sought to buy a total of 114,077 metric tons of food-quality wheat from the United States, Canada and Australia in a regular tender that will close late on Thursday.
MARKET NEWS
* Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve cuts interest rates this year, while a resurgent dollar helped weaken the yen further.
DATA/EVENTS (GMT)
0600 Germany Industrial Output MM, YY March
1200 Brazil Retail Sales YY March
2350 Japan Bank of Japan to release summary
of opinions from board members at its
April 25-26 policy meeting (Reporting by Bernadette Christina; Editing by Rashmi Aich)
