eCBOT Close/Early Call/USDA Export Sales
eCBOT grains trimmed earlier gains to close lower in the overnight markets, with soybeans down around 1-3c, corn 2c easier and wheat 2c lower.
Egypt bought 55,000mt US wheat last night, passing on Russian and French grain, which was seen as supportive.
The IGC Thursday maintained it's estimate for 2008/09 global wheat production at 683mmt, 73mmt higher than in 2007/08. Consumption for the current season was reduced 1mmt to 650mmt.
Dryness in Argentina and harvest rains in Australia are still a cause for concern.
The EU said it has granted licences to export 14.9 million tonnes of grains so far this season, nearly double the 7.6 million at the same point last year.
The IGC raised its forecast for 2008/09 world corn production by 2 million tonnes from it's October forecast to 775 million tonnes.
In it's weekly export sales report for the week ended Nov 20th the USDA announced export sales for wheat of 438,600MT (vs expectation of 300-500,000MT); corn 465,400MT (300-500,000MT); soybeans 785,600MT (550-750,000MT); soymeal 59,700MT (100-125,000MT); soyoil 17,100MT (5-10,000).
Early calls for this afternoon's shortened CBOT session: Corn futures are expected to open steady to 4 lower; soybeans steady to 5 lower; wheat mixed.
Egypt bought 55,000mt US wheat last night, passing on Russian and French grain, which was seen as supportive.
The IGC Thursday maintained it's estimate for 2008/09 global wheat production at 683mmt, 73mmt higher than in 2007/08. Consumption for the current season was reduced 1mmt to 650mmt.
Dryness in Argentina and harvest rains in Australia are still a cause for concern.
The EU said it has granted licences to export 14.9 million tonnes of grains so far this season, nearly double the 7.6 million at the same point last year.
The IGC raised its forecast for 2008/09 world corn production by 2 million tonnes from it's October forecast to 775 million tonnes.
In it's weekly export sales report for the week ended Nov 20th the USDA announced export sales for wheat of 438,600MT (vs expectation of 300-500,000MT); corn 465,400MT (300-500,000MT); soybeans 785,600MT (550-750,000MT); soymeal 59,700MT (100-125,000MT); soyoil 17,100MT (5-10,000).
Early calls for this afternoon's shortened CBOT session: Corn futures are expected to open steady to 4 lower; soybeans steady to 5 lower; wheat mixed.
