eCBOT Close/Early Call
eCBOT grains futures closed firmer overnight with corn around 2-3c higher, beans up around 5-6c and wheat up around 4-5c.
Modest follow-through buying from last night's stronger close was a feature overnight as crude oil seems to have stabilised around $113/barrel.
Note however that there is data due out later today from the EIA for weekly US crude, gasoline & distillates stocks which may affect crude this afternoon.
Any significant movment in crude is likely to spill over into the grains/oilseed markets.
Early calls for this afternoon's sesion are: Corn futures are expected to open 2 to 3 higher; soybeans 3 to 5 higher; wheat 3 to 4 higher.
Modest follow-through buying from last night's stronger close was a feature overnight as crude oil seems to have stabilised around $113/barrel.
Note however that there is data due out later today from the EIA for weekly US crude, gasoline & distillates stocks which may affect crude this afternoon.
Any significant movment in crude is likely to spill over into the grains/oilseed markets.
Early calls for this afternoon's sesion are: Corn futures are expected to open 2 to 3 higher; soybeans 3 to 5 higher; wheat 3 to 4 higher.
