Overnight Grains Mixed
Overnight grains are mixed on the eCBOT market, with what and corn a cent or so firmer and soybeans 2-3 cents weaker.
Last nights rally in the US stock market has spilled over into Asian trading, whilst crude oil has weakened from yesterday's highs, which is modestly supportive for grains.
Although the US soybean harvest is now pretty much in the bag, the corn harvest is lagging, which is lending some underlying strength to corn.
Wheat is also getting some support from the late corn harvest, as it may prevent plantings of some acres intended for wheat.
At 13.30 GMT today we get the latest USDA weekly export sales report, which may provide some direction later on.
Still, the underlying fundamentals haven't changed. Slumping world economies, credit difficulties and slack demand.
Last nights rally in the US stock market has spilled over into Asian trading, whilst crude oil has weakened from yesterday's highs, which is modestly supportive for grains.
Although the US soybean harvest is now pretty much in the bag, the corn harvest is lagging, which is lending some underlying strength to corn.
Wheat is also getting some support from the late corn harvest, as it may prevent plantings of some acres intended for wheat.
At 13.30 GMT today we get the latest USDA weekly export sales report, which may provide some direction later on.
Still, the underlying fundamentals haven't changed. Slumping world economies, credit difficulties and slack demand.
