eCBOT Close/Early Call
The overnight market closed mostly steadier with soybeans up 5-6c, corn around 1 1/2c firmer and wheat flat around unchanged.
Support comes from an overnight freeze in parts of Argentina, whilst dryness also in Argentina is causing delays to soybean plantings.
In Brazil Planting of the soybean crop is also under way. Celeres said 55 percent of expected acres have been planted, a little behind the year-ago pace of 60 percent and even with the average.
Farmer selling remains light says Celeres with only 20 percent of the 2008/09 soybean crop sold so far, compared to 32 percent last year and 29 percent for the 5-year average.
Chinese demand is also supportive. The most-active soybean contract on China's Dalian exchange finished up more than 3 percent Wednesday with a volume of more than 600,000 lots.
In the US the corn harvest continues to lag well behind, with more than 20% of the crop still in the fields as of Sunday. Rain and snow continues to hamper farmers efforts to get the remainder of the crop into the bins.
Japan is expected to buy around 100,000mt US wheat in a tender to be concluded tomorrow.
Early calls for this afternoons CBOT session: Corn futures are expected to open steady to 1 higher; soybeans 4 to 6 higher; wheat steady.
Support comes from an overnight freeze in parts of Argentina, whilst dryness also in Argentina is causing delays to soybean plantings.
In Brazil Planting of the soybean crop is also under way. Celeres said 55 percent of expected acres have been planted, a little behind the year-ago pace of 60 percent and even with the average.
Farmer selling remains light says Celeres with only 20 percent of the 2008/09 soybean crop sold so far, compared to 32 percent last year and 29 percent for the 5-year average.
Chinese demand is also supportive. The most-active soybean contract on China's Dalian exchange finished up more than 3 percent Wednesday with a volume of more than 600,000 lots.
In the US the corn harvest continues to lag well behind, with more than 20% of the crop still in the fields as of Sunday. Rain and snow continues to hamper farmers efforts to get the remainder of the crop into the bins.
Japan is expected to buy around 100,000mt US wheat in a tender to be concluded tomorrow.
Early calls for this afternoons CBOT session: Corn futures are expected to open steady to 1 higher; soybeans 4 to 6 higher; wheat steady.
