eCBOT Close/Early Call

eCBOT grains closed mixed with beans around 7-8c firmer, wheat up around 3-4c and corn 1-3c lower.

The dollar is sharply weaker ahead of the Fed's anticipated interest rate cut later today. Just after 1pm GMT the pound was at $1.5330, close to it's highest levels in a fortnight.

Corn is a little lower on ideas that the late surge after Informa slashed 2009 acres by 3.6m may have been a little overdone.

Iraq is in the market for 50,000mt any origin wheat and Japan is tendering for a 62,000mt combo of US and Canadian wheat.

Ukraine remains amongst the countries hardest hit by world financial turmoil. It's currency, the hryvnia, is crashing through the floor making it very competitive on the wheat export arena.

So too, Russia, with it's ruble devalued twice in the last four days. Both countries have large grain stocks to sell and are keen for the foreign dollars that they provide.

Crude seems settled around $45/barrel ahead of the OPEC meeting at the end of the week.

Early calls for this afternoon's CBOT session: Corn futures are expected to open 1 to 3 lower; soybeans 8 to 10 higher; and wheat 1 to 3 higher.