Overnight market developments - oil supports

Oil at or near a record $123/barrel is supporting all the grains complex this morning. Corn is up around 7c, soybeans 4-8c firmer and wheat up around 4c.

The Argy problem is ongoing & although some progress has been made is far from resolved as yet. This is also supportive for beans.

The USDA are out Friday with a revised crop production estimate which will keep traders cautious.