CBOT Early Call

July corn called 1 to 2 cents lower; July soybeans called 5 to 7 cents higher; July CBOT wheat called 1 to 3 cents higher. A weaker dollar may support the entire complex.

The weekend looks like being cold & wet across the US Midwest, this will delay any hopes of early fieldwork. In North Dakota flooding is expected to put paid to at least half a million acres of spring wheat plantings.

Yesterday's weekly export sales were pretty robust overall, especially for corn & beans. China took some new crop beans, and are rumoured to have bought more today.

Corn is flirting with the $4/bushel level, May closing at $4.01 3/4 overnight, some US farmers reportedly see this as an "acceptable" level in the current climate.

Another dry weekend is in store for Argentina which will help move the harvest on a pace, but do little to improve flagging yields.