Overnight Grains Firmer
Overnight grains are firmer in early trade Friday morning, buoyed by news that the US is working on plans to assist banks and insurers.
In addition, the injection of $247 billion into financial markets by world central banks in an effort to improve liquidity has eased recent fears of economic meltdown and sent investors money flowing back into equities.
Asian stocks were sharply higher overnight. Grains are just getting swept along for the ride.
eCBOT corn and wheat are up around 5c in early trade with soybeans around 10-15c higher.
With US soybean stocks so tight, and the harvest delayed by late planting and wet weather, beans appear to have the most potential for nearby gains.
In addition, the injection of $247 billion into financial markets by world central banks in an effort to improve liquidity has eased recent fears of economic meltdown and sent investors money flowing back into equities.
Asian stocks were sharply higher overnight. Grains are just getting swept along for the ride.
eCBOT corn and wheat are up around 5c in early trade with soybeans around 10-15c higher.
With US soybean stocks so tight, and the harvest delayed by late planting and wet weather, beans appear to have the most potential for nearby gains.