eCBOT Close, Early Call
The overnight grains closed higher, with soybeans again leading the way, supported by firmer equities and crude oil and a weaker dollar.
Beans closed around 8-10 cents firmer, with wheat and corn posting just nominal gains of a cent of so.
Old crop beans are in the driving seat as US stocks remain tight and China continues to buy, wisely shunning Argentina in the wake of the everlasting dispute between the government & farmers.
Export inspections data from the USDA for beans show up 11% ahead of last year, and more than half of last weeks exports heading for China.
Taiwan purchased 106,000 tonnes of Brazil soybeans overnight. Iraq are tendering for at least 50,000 tonnes of wheat this week and Japan are in for 61,000 tonnes.
Cold & wet conditions in the Midwest are supportive for corn.
After the close last night the USDA upped the percentage of the winter wheat crop rated poor/very poor by three points to 25%. In addition they also showed spring plantings well behind normal.
Goldman Sachs reporting $1.66 billion in profits for the first quarter may help to reassure the markets that the worst is over for the banking sector.
Early call for this afternoon's CBOT session: Corn futures are expected to open steady to 1 higher; soybeans 7 to 9 higher; wheat, steady to 2 higher.
Beans closed around 8-10 cents firmer, with wheat and corn posting just nominal gains of a cent of so.
Old crop beans are in the driving seat as US stocks remain tight and China continues to buy, wisely shunning Argentina in the wake of the everlasting dispute between the government & farmers.
Export inspections data from the USDA for beans show up 11% ahead of last year, and more than half of last weeks exports heading for China.
Taiwan purchased 106,000 tonnes of Brazil soybeans overnight. Iraq are tendering for at least 50,000 tonnes of wheat this week and Japan are in for 61,000 tonnes.
Cold & wet conditions in the Midwest are supportive for corn.
After the close last night the USDA upped the percentage of the winter wheat crop rated poor/very poor by three points to 25%. In addition they also showed spring plantings well behind normal.
Goldman Sachs reporting $1.66 billion in profits for the first quarter may help to reassure the markets that the worst is over for the banking sector.
Early call for this afternoon's CBOT session: Corn futures are expected to open steady to 1 higher; soybeans 7 to 9 higher; wheat, steady to 2 higher.
