eCBOT Close, Early Call

The overnight markets showed little change Wednesday, with beans closing around 1-3 cents lower, corn narrowly mixed and wheat around 4-5 cents higher.

Crude oil and the dollar are weaker and Wall Street is expected to open slightly higher.

The American Petroleum Institute yesterday pegged US gasoline stocks 3.7 million barrels higher last week. The US Energy dept. are out with their estimate around the open of CBOT, they are expected to show a more modest increase.

The Fed conclude their two-day meeting today and are not expected to make any changes to US interest rates tonight, but the trade will hang on every word of their accompanying statement.

There isn't a great deal of fundamental grains news today, with the market largely treading water waiting for next week's USDA plantings report.

Jordan bought 100,000 MT of Black Sea origin wheat overnight.

The US harvest is advancing well in the largest producing winter wheat state of Kansas. Yields are mixed, possibly erring on the disappointing side, with quality also an issue following a wet spring.

Early calls for this afternoon's CBOT session: corn 2 lower to 2 higher; soybeans steady to 2 lower; wheat 2 to 4 higher.