Overnight developments

eCBOT grains stand lower this morning with beans down 21-24 cents, corn 3-4 cents lower and wheat down 4 cents.

Soybeans are easier after last night's USDA crop condition report showed an improvement of one point in the good/excellent category.

Corn is also lower after crop conditions there also saw a modest increase.

Wheat is lower as reports emerge from Australia of an improving crop outlook there.

Crude oil hovers around unchanged at $125.24/barrel.

The pound is little changed from last night at $1.9937.