Early Call On CBOT
The overnight markets closed mixed with beans around 1-2 cents higher, wheat 1-2 cents lower and corn around unchanged levels.
The dollar has recovered somewhat from weakness earlier in the morning to be around unchanged. Crude oil is weaker at around USD76/barrel.
The EPA said it is delaying its decision on the ethanol blend limit until later in the year, saying more tests are needed.
The window for filing crop insurance claims in Canada will be closed by Sunday at the latest.
The USDA have today confirmed a sale of 35,000 MT of soyoil to China for 2009/10 as the latter continue to snub Argentina. They also confirmed a sale of 120,000 of soybeans to unknown for new crop.
Oilseed plantings in India are curiously running 50% down on last season according to the government, even though sowing was delayed last year by the late arrival of the monsoon. Rice planting is also behind schedule.
The gap between Kansas/Minneapolis wheat and CBOT continues to widen.
Informa are out mid-session with their 2010 planting estimates.
Early calls are mixed on corn and wheat and 1-3 cents higher on beans. I wouldn't be surprised to see corn and wheat slide a little lower as the session wears on.
The dollar has recovered somewhat from weakness earlier in the morning to be around unchanged. Crude oil is weaker at around USD76/barrel.
The EPA said it is delaying its decision on the ethanol blend limit until later in the year, saying more tests are needed.
The window for filing crop insurance claims in Canada will be closed by Sunday at the latest.
The USDA have today confirmed a sale of 35,000 MT of soyoil to China for 2009/10 as the latter continue to snub Argentina. They also confirmed a sale of 120,000 of soybeans to unknown for new crop.
Oilseed plantings in India are curiously running 50% down on last season according to the government, even though sowing was delayed last year by the late arrival of the monsoon. Rice planting is also behind schedule.
The gap between Kansas/Minneapolis wheat and CBOT continues to widen.
Informa are out mid-session with their 2010 planting estimates.
Early calls are mixed on corn and wheat and 1-3 cents higher on beans. I wouldn't be surprised to see corn and wheat slide a little lower as the session wears on.