Overnight grains - sharply lower as crude tumbles

Overnight grains are sharply lower Tuesday morning after Hurricane Gustav failed to do much damage in the Gulf of Mexico and was downgraded to a Cat2.

US refineries in the Gulf are expected to re-open as early as today.

Corn is around 22-24c lower this morning, with soybeans around 37c easier and wheat 18c down.

Dollar strength is also weighing on the market, along with surging global wheat production.