Early call on Chicago - Overnight market volatile

Corn futures are expected to open steady to 2 higher; soybeans 15 to 20 lower; wheat 14 to 17 lower. Corn prices are still firm but soybeans and wheat slipped from extreme highs on technical selling. Expect a great deal of price volatility as drier weather enters the Corn Belt.

Grains futures sold off heavily late at the end of a volatile overnight eCBOT session. July wheat finished close to session lows 15c easier at $8.54/bushel, having set session highs at the opening 14c higher at $8.83/bushel.

July soybeans closed the overnight session 10c lower at $15.06 1/2c, having been as much as 20 1/4c higher early on. New crop months closed generally 24-25c easier.

Corn remains the strongest leg with July closing 1 1/4c firmer at $7.04 1/2c, although well off session highs of $7.21 3/4c.