eCBOT Close/Early Call

eCBOT futures closed mixed overnight with corn 2-3c higher, wheat up 1-2c and soybeans around 4c lower.

The US grains market continues to get dragged down by a general malaise across virtually all commodities markets.

The Reuters/Jefferies CRB Index of 19 commodities has fallen 9.9 percent this week, the largest drop since at least 1956, as a worsening global growth outlook sent prices for crude oil, corn, soybeans, nickel and gold tumbling from peaks reached this year.

Platinum headed for its biggest weekly drop in at least 21 years in London. Palm oil futures plunged to a 18-month low overnight, and crude is heading for its largest weekly loss in four years.

If the US House of representatives fail to pass the revised $700 billion rescue package tonight then all hell could break loose on the markets. If it does go through, then doubts already exist that it might be a case of too little too late.

Early calls for this afternoons CBOT session: Corn futures are expected to open 1 to 3 higher; soybeans 3 to 5 lower; wheat 1 to 3 higher.