eCBOT Close, Early Call
eCBOT grains closed mixed, mostly a little higher in a quiet session Tuesday. Beans finished 6-7 cents higher, corn flat to 1 cent firmer and wheat down 1-2 cents.
The Argentine farmers' strike continues to support soybeans, especially nearby months, on ideas that the US may pick up some extra export business to continue the recent good run.
Old crop stocks are already tight, any increase in sales now will extenuate matters further.
Dry & warm Argentine weather is seen as potentially reducing yields rather than increasing them at the moment.
Further forward however the USDA are expected to announce US farmers will increase spring soybean plantings anywhere from 2-5 million acres in 2009. With beans at their second highest pre-planting levels ever why wouldn't they?
Corn plantings may be reduced, but only marginally many are saying.
After the close last night the USDA released their weekly crop condition ratings for wheat, increasing good/excellent in Kansas by on point to 42%, Texas also rose by a point, but only to 13% good/excellent, Oklahoma fell one pip to 24% good/excellent.
QT Weather show quite a bit of rain in the five day forecast, some parts of Kansas may pick up a maximum of 2 inches, but the majority of the rain looks like bypassing wheat country & falling in the Mississippi Delta region with accumulated totals of up to 6 inches expected.
Early calls for this afternoon's CBOT session: July corn called steady to 2 cents higher; July soybeans called 5 to 7 cents higher; July CBOT wheat called flat to 2 cents lower.
The Argentine farmers' strike continues to support soybeans, especially nearby months, on ideas that the US may pick up some extra export business to continue the recent good run.
Old crop stocks are already tight, any increase in sales now will extenuate matters further.
Dry & warm Argentine weather is seen as potentially reducing yields rather than increasing them at the moment.
Further forward however the USDA are expected to announce US farmers will increase spring soybean plantings anywhere from 2-5 million acres in 2009. With beans at their second highest pre-planting levels ever why wouldn't they?
Corn plantings may be reduced, but only marginally many are saying.
After the close last night the USDA released their weekly crop condition ratings for wheat, increasing good/excellent in Kansas by on point to 42%, Texas also rose by a point, but only to 13% good/excellent, Oklahoma fell one pip to 24% good/excellent.
QT Weather show quite a bit of rain in the five day forecast, some parts of Kansas may pick up a maximum of 2 inches, but the majority of the rain looks like bypassing wheat country & falling in the Mississippi Delta region with accumulated totals of up to 6 inches expected.
Early calls for this afternoon's CBOT session: July corn called steady to 2 cents higher; July soybeans called 5 to 7 cents higher; July CBOT wheat called flat to 2 cents lower.
