eCBOT Close/Early Call
eCBOT grain futures closed lower Monday, reversing earlier gains, on ideas that the ongoing economic slump will hurt demand.
Wheat closed around 10-12c easier, with corn off 5-6c and soybeans around 2c lower.
Wheat was the weakest leg after the New South Wales Department of Primary Industries raised its estimate for 2008 wheat production in the state to 6mmt, from 5.8mmt previously and just 1.8mmt a year ago.
Soybeans derived some support from news that China's soybean imports in September were more than double last years levels at 4.13mmt. Year-to-date imports are running at 28.7mmt, a 32% increase on 2007.
China's corn imports for the year-to-date are also sharply higher, up 60% to 16.14mmt.
Crude is around a couple of dollars lower, but off session lows, at $62.36/barrel.
The pound is around $1.5390, from a close at $1.5897 Friday, when its 5.9 percent intraday plunge was the most in at least 37 years.
Early calls on this afternoon's CBOT session: Corn is expected to open 5 to 8 lower; soybeans steady to 2 lower; wheat 10 to 12 lower.
Wheat closed around 10-12c easier, with corn off 5-6c and soybeans around 2c lower.
Wheat was the weakest leg after the New South Wales Department of Primary Industries raised its estimate for 2008 wheat production in the state to 6mmt, from 5.8mmt previously and just 1.8mmt a year ago.
Soybeans derived some support from news that China's soybean imports in September were more than double last years levels at 4.13mmt. Year-to-date imports are running at 28.7mmt, a 32% increase on 2007.
China's corn imports for the year-to-date are also sharply higher, up 60% to 16.14mmt.
Crude is around a couple of dollars lower, but off session lows, at $62.36/barrel.
The pound is around $1.5390, from a close at $1.5897 Friday, when its 5.9 percent intraday plunge was the most in at least 37 years.
Early calls on this afternoon's CBOT session: Corn is expected to open 5 to 8 lower; soybeans steady to 2 lower; wheat 10 to 12 lower.
