Overnight markets

Front month beans are around 7-9c higher this morning, effectively reversing much of last night's losses. Wheat and corn are around 2c firmer.

There's no particularly fresh news, its a general recent losses might have been a bit overdone, consolidation ahread of the weekend sort of scenario.

Crude is steady for the time being around the $125-126 level, with the usual concerns over Iran & Nigeria doing enough to stop the market declining any further for the time being.

Asian stock markets crashed to their lowest levels in six weeks overnight after the National Bank of Australia took a big hit. Shares in Australia's biggest bank and the Australian & New Zealand Banking Group, the third largest, plunged the most since the October 1987 stock market crash.

The pound is jittery on recession fears at $1.9875 and one euro is worth 79p.