Overnight Grains
The overnight eCBOT market is mostly firmer in early trade with wheat around 3-4c higher, corn up 2-3c and soybeans 10c firmer.
Soybeans advanced from a 13-month low on speculation Brazilian production may fall next year and that a 44 percent plunge in prices may sustain food demand even as the global financial crisis erodes earnings.
The 2009 soybean crop in Brazil, the world's second-biggest producer, will be smaller because of reduced fertilizer use and dry weather, Oil World said.
The US harvest continues to lag with just 21 percent of corn collected by Oct. 12, compared with 14 percent a week ago, 50 percent a year earlier.
Soybean harvesting was 51 percent completed, compared with 31 percent a week ago, 61 percent a year earlier.
Soybeans advanced from a 13-month low on speculation Brazilian production may fall next year and that a 44 percent plunge in prices may sustain food demand even as the global financial crisis erodes earnings.
The 2009 soybean crop in Brazil, the world's second-biggest producer, will be smaller because of reduced fertilizer use and dry weather, Oil World said.
The US harvest continues to lag with just 21 percent of corn collected by Oct. 12, compared with 14 percent a week ago, 50 percent a year earlier.
Soybean harvesting was 51 percent completed, compared with 31 percent a week ago, 61 percent a year earlier.
