eCBOT Close/Early Call
eCBOT grains closed with sharp gains, with soybeans leading the way higher on strong Chinese demand and further worries over South American weather.
Soybeans closed around 26-28c firmer, with corn up around 6c and wheat 8c steadier.
Crude oil seems to have stabilized around $42/barrel, after dropping heavily midweek.
The US dollar is weak & nervous ahead of some crucial jobs data due out later today. If the figures are worse than expected, and they easily could be, then the dollar might go for a late bath this afternoon, which may also boost grains.
Weather in South America remains a concern, with Conab cutting it's corn & soybean production forecasts yesterday, and warning that final output could be much lower still, with soybeans as much as 12% down on last season and corn 14% lower on a year ago.
The trade is also nervous ahead of Monday's important reports from the USDA.
Early calls for this afternoon: Corn futures are expected to open 3 to 5 higher; soybeans 20 to 25 higher; and wheat 5 to 7 higher.
Soybeans closed around 26-28c firmer, with corn up around 6c and wheat 8c steadier.
Crude oil seems to have stabilized around $42/barrel, after dropping heavily midweek.
The US dollar is weak & nervous ahead of some crucial jobs data due out later today. If the figures are worse than expected, and they easily could be, then the dollar might go for a late bath this afternoon, which may also boost grains.
Weather in South America remains a concern, with Conab cutting it's corn & soybean production forecasts yesterday, and warning that final output could be much lower still, with soybeans as much as 12% down on last season and corn 14% lower on a year ago.
The trade is also nervous ahead of Monday's important reports from the USDA.
Early calls for this afternoon: Corn futures are expected to open 3 to 5 higher; soybeans 20 to 25 higher; and wheat 5 to 7 higher.