Overnight grains

The overnight grains markets are firmer across the board in early trade Monday morning as the dollars rise falters and crude rises from a five month low Friday.

The dollar is down as investors weigh up the implications for the US economy of the weekend government bailout of mortgage lenders Fannie Mae and Freddie Mac.

Meanwhile crude is firmer as Hurricane Ike threatens US production platforms in the Gulf of Mexico, keeping around 80% of output there shut down.

Both factors are seen as supportive to grains and corn is up around 7-10c this morning, with soybeans around 16-17c higher and wheat up 10-12c.