CBOT Early Call
The overnight grains closed higher, aided by a softer dollar to start the week. Beans finished with gains of around 6-7 cents, with wheat up 3-4 cents and corn around a cent firmer.
US weather is seen warming and drying up significantly this week, with 5-7 days of opportunity for fieldwork in the western Corn Belt, and 10-12 days across Illinois, Indiana and Ohio, according to QT Weather.
High temperatures are forecast into the mid-70's in many locations, with mid to low 80's centrally and further south by Thursday.
Contrary to some reports of the dock strike in Argentina being a short-lived affair, Reuters are reporting an escalation of blockades extending from San Martin to Timbues port here.
It seems that this could continue to support front-end soybeans, where US stocks are already tight.
The USDA are out Wednesday with their spring planting intentions report, and also quarterly stocks data.
Some reports suggest that soybean production in Brazil might be a little overstated at 67-68 MMT, and that final yields are coming in slightly disappointing.
India's wheat crop looks set to come in below the government's 82 MMT estimate as heat and lack of adequate rainfall hasten crops to maturity, reducing yields. Whether they truthfully tell us how much has been lopped of final production is questionable. It would make particularly bad publicity in light of recent revelations of last season's crop being left to rot in the open.
Black Sea exporters seem to either be running a bit short after months of aggressive marketing, or else shying away from US wheat prices hitting contract lows Friday.
Early calls for this afternoon's CBOT session: corn called flat to 2 higher; soybeans called 6 to 8 higher; wheat called 2 to 4 higher.
US weather is seen warming and drying up significantly this week, with 5-7 days of opportunity for fieldwork in the western Corn Belt, and 10-12 days across Illinois, Indiana and Ohio, according to QT Weather.
High temperatures are forecast into the mid-70's in many locations, with mid to low 80's centrally and further south by Thursday.
Contrary to some reports of the dock strike in Argentina being a short-lived affair, Reuters are reporting an escalation of blockades extending from San Martin to Timbues port here.
It seems that this could continue to support front-end soybeans, where US stocks are already tight.
The USDA are out Wednesday with their spring planting intentions report, and also quarterly stocks data.
Some reports suggest that soybean production in Brazil might be a little overstated at 67-68 MMT, and that final yields are coming in slightly disappointing.
India's wheat crop looks set to come in below the government's 82 MMT estimate as heat and lack of adequate rainfall hasten crops to maturity, reducing yields. Whether they truthfully tell us how much has been lopped of final production is questionable. It would make particularly bad publicity in light of recent revelations of last season's crop being left to rot in the open.
Black Sea exporters seem to either be running a bit short after months of aggressive marketing, or else shying away from US wheat prices hitting contract lows Friday.
Early calls for this afternoon's CBOT session: corn called flat to 2 higher; soybeans called 6 to 8 higher; wheat called 2 to 4 higher.