eCBOT Close/Early Call

eCBOT grains closed firmer now that the bulk of the bad news from Monday's USDA report has been absorbed by the market.

Attention now is again back on Argy weather, and that is remaining hot & dry as corn starts to pollinate & soybeans flower. With temperatures up to 5F above normal, and only isolated showers in the forecast between now and Sunday, little relief is on the way.

Export demand for soybeans from China is also helping keep beans as the market leader of the complex.

Various tenders are scattered around the marketplace with Tunisia tendering to buy 142,000mt of optional origin wheat, Syria shopping for 200,000mt soft wheat and the Philippines are in for 100,000mt feed wheat.

The Philippines are also looking for soymeal, as too is South Korea. They are also tendering for corn, and Japan is expected to buy US wheat in a routine tender tomorrow.

The dollar has levelled of after yesterdays rapid appreciation, and crude oil has stabilised which is also helping the grains sector.

Early calls for this afternoon's CBOT session: Corn Up 3-5c, Soy Up 12-15c, Wheat Up 4-6c.