eCBOT Close, Early Call, USDA Export Sales
eCBOT closed higher, partially reversing some of last night's losses with beans up around 8 cents, corn up around 3 cents and wheat around 5 cents higher.
Crude oil is $1.75 higher, or 3.3%, at $54.52/barrel. The DJIA is expected to open higher after several US economic readings put investors at ease.
A series of rapidly-moving storms will soak much of the US corn belt in the next couple of weeks, delaying any hopes of an early start to plantings that US farmers may have had.
In western areas of the Midwest flooding is a real problem, with President Obama declaring the entire state of North Dakota a disaster area.
Dryness in South America will aid the harvest in Brazil, but may knock a bit of yield potential off in Argentina.
The USDA pegged weekly export sales for wheat at 264,200mt for old crop and 124,000mt for new crop. Expectations had been for 300-500,000mt.
Soybean sales came in at 428,800mt for old crop and 111,500mt for new crop, compared to pre-report estimates of 300-600,000mt. China took 251,300mt of old and 110,000mt of new crop beans.
Corn sales were a robust 1,191,300mt of old crop and 101,500mt of new crop, against expectations of 600-900,000mt.
Corn sales were impressive, and although the bean numbers were only in line with what was expected, at least they do confirm that China is still around to take old crop and hasn't switched entirely to South America just yet.
Early calls for this afternoon's CBOT session: Corn futures are expected to open 3 to 5 higher; soybeans 7 to 9 higher; and wheat 2 to 4 higher.
Crude oil is $1.75 higher, or 3.3%, at $54.52/barrel. The DJIA is expected to open higher after several US economic readings put investors at ease.
A series of rapidly-moving storms will soak much of the US corn belt in the next couple of weeks, delaying any hopes of an early start to plantings that US farmers may have had.
In western areas of the Midwest flooding is a real problem, with President Obama declaring the entire state of North Dakota a disaster area.
Dryness in South America will aid the harvest in Brazil, but may knock a bit of yield potential off in Argentina.
The USDA pegged weekly export sales for wheat at 264,200mt for old crop and 124,000mt for new crop. Expectations had been for 300-500,000mt.
Soybean sales came in at 428,800mt for old crop and 111,500mt for new crop, compared to pre-report estimates of 300-600,000mt. China took 251,300mt of old and 110,000mt of new crop beans.
Corn sales were a robust 1,191,300mt of old crop and 101,500mt of new crop, against expectations of 600-900,000mt.
Corn sales were impressive, and although the bean numbers were only in line with what was expected, at least they do confirm that China is still around to take old crop and hasn't switched entirely to South America just yet.
Early calls for this afternoon's CBOT session: Corn futures are expected to open 3 to 5 higher; soybeans 7 to 9 higher; and wheat 2 to 4 higher.
