Overnight Markets
eCBOT is mostly a little steadier overnight with soybeans 1-2c higher, wheat and corn around 1c firmer.
Export interest is quite buoyant. South Korea bought 165,000mt each of wheat and corn earlier in the week and are back in the market today for a further 275,000mt of corn.
Japan bought 128,000mt wheat overnight with 86,000mt coming from the US.
With the harvest just about wrapped up the US attache in Australia said that final wheat production Down Under will be 20.15mmt.
It sees like it is still too early in the day to accurately assess the impact on yields of this weeks rains in Argentina.
Drought in China is also a concern with 9.50 million hectares of wheat now affected. Last year China produced around 112.5mmt of wheat, only 20mmt less than this years anticipated production for the whole of the EU-27.
The pound is flat ahead of the Bank of England's announcement on interest rates due at lunchtime today.
Export interest is quite buoyant. South Korea bought 165,000mt each of wheat and corn earlier in the week and are back in the market today for a further 275,000mt of corn.
Japan bought 128,000mt wheat overnight with 86,000mt coming from the US.
With the harvest just about wrapped up the US attache in Australia said that final wheat production Down Under will be 20.15mmt.
It sees like it is still too early in the day to accurately assess the impact on yields of this weeks rains in Argentina.
Drought in China is also a concern with 9.50 million hectares of wheat now affected. Last year China produced around 112.5mmt of wheat, only 20mmt less than this years anticipated production for the whole of the EU-27.
The pound is flat ahead of the Bank of England's announcement on interest rates due at lunchtime today.