Overnight market developments
Corn has pushed sharply higher this morning as weekend weather in the US appears to have done little to advance plantings in the Midwest.
Ideas that the USDA tonight will report only a modest advance in planted acres has pushed corn futures up around 14c.
This and another record high for crude oil have also dragged soybeans & wheat higher, although traders are conscious that as things stand at the moment, corns loss of acres is potentially soybeans gain. Beans are currently around 12c higher with wheat up 10c.
Ideas that the USDA tonight will report only a modest advance in planted acres has pushed corn futures up around 14c.
This and another record high for crude oil have also dragged soybeans & wheat higher, although traders are conscious that as things stand at the moment, corns loss of acres is potentially soybeans gain. Beans are currently around 12c higher with wheat up 10c.
