Early call on Chicago/eCBOT close

CBOT grain and soybean futures were lower overnight. Soybeans were pressured by the Argentine Senate's rejection of a grain export tax, which will please farmers and reduce the chance of another strike, a trader said.

The trader added that outside markets could further pressure grains and soybeans. There is little news in wheat, he said, and U.S. corn belt weather forecasts are not bullish.

Dec corn was down 7 1/2 cents to $6.69 3/4 per bushel, Nov soybeans were down 5 1/2 cents to $15.42 3/4 per bushel, and Dec wheat was down 9 cents to $8.48 1/4.

Early calls say corn futures are expected to open 5 to 7 lower; soybeans 5 to 7 lower; and wheat 7 to 9 lower.