eCBOT Close, Early Call
The overnights closed with little change, wheat was 2-3 cents higher, corn a couple of cents lower and soybeans mixed around 2 down to 1 up.
In the outside markets crude oil is showing little change around $71/barrel, the dollar is a tad firmer and stocks a little lower. Jobs data from the US shows that unemployment fell last week by 148,000 to 6.76 million, that could provide Wall Street with a bit of a boost when it opens.
The USDA export sales report came in largely within the expected parameters, although it was significant that there were no old crop Chinese bean cancellations. Indeed, they actually booked another cargo. They are also said to have bought 100,000 MT of Argy soyoil overnight.
Japan bought 127,000 MT of mostly US wheat in a routine tender. Egypt are shopping for a couple of cargoes of various origin wheat.
Strategie Grains lopped 6.4 MMT off last month's EU-27 grain production estimate, including reducing their soft wheat forecast by 2.6 MMT.
The Argy wheat crop for 2009/10 keeps getting smaller too, with the Buenos Aires Grain Exchange pegging plantings there at a record low 2.96 million hectares.
Also some way off in the distance is the Australian wheat crop, at the moment most analysts estimates are for a crop of around 22 MMT, but with various weather bodies warning that a drought-inducing El Nino year is more than likely that could potentially fall by as much as half.
Early calls for this afternoon's CBOT session: corn called 1 to 3 lower; soybeans called mixed 2 lower to 2 higher; wheat called steady to 3 higher.
In the outside markets crude oil is showing little change around $71/barrel, the dollar is a tad firmer and stocks a little lower. Jobs data from the US shows that unemployment fell last week by 148,000 to 6.76 million, that could provide Wall Street with a bit of a boost when it opens.
The USDA export sales report came in largely within the expected parameters, although it was significant that there were no old crop Chinese bean cancellations. Indeed, they actually booked another cargo. They are also said to have bought 100,000 MT of Argy soyoil overnight.
Japan bought 127,000 MT of mostly US wheat in a routine tender. Egypt are shopping for a couple of cargoes of various origin wheat.
Strategie Grains lopped 6.4 MMT off last month's EU-27 grain production estimate, including reducing their soft wheat forecast by 2.6 MMT.
The Argy wheat crop for 2009/10 keeps getting smaller too, with the Buenos Aires Grain Exchange pegging plantings there at a record low 2.96 million hectares.
Also some way off in the distance is the Australian wheat crop, at the moment most analysts estimates are for a crop of around 22 MMT, but with various weather bodies warning that a drought-inducing El Nino year is more than likely that could potentially fall by as much as half.
Early calls for this afternoon's CBOT session: corn called 1 to 3 lower; soybeans called mixed 2 lower to 2 higher; wheat called steady to 3 higher.
