eCBOT Close, Early Call
The overnights close sharply higher on beans which ended around 17-20 cents higher, with corn and wheat up 1-2 cents.
There's a little mini wave of optimism carried over from Friday's Ben Bernanke comments that the recession is bottoming around the world. The Institute of Chartered Accountants in England and Wales seem to agree with him, saying that confidence is the best it's been for two years.
Crude oil is up a bit, and stock markets around the world are firmer, adding a bit of outside support.
There are worries over drought damage to crops in China, Australia has just had a record-breaking August weekend with temperatures into the top 30's (so at least they've got something to smile about!) and the Indian monsoon season rainfall amounts continue to disappoint.
Some reports suggest that Brazilian crushers may end up buying US beans before long due to the hectic pace of exports in the first half of the year.
Soaring sugar prices might have an impact on corn demand from a sweetener viewpoint.
Early calls for this afternoon's CBOT session: beans up 15-20; wheat and corn 1-2 higher.
There's a little mini wave of optimism carried over from Friday's Ben Bernanke comments that the recession is bottoming around the world. The Institute of Chartered Accountants in England and Wales seem to agree with him, saying that confidence is the best it's been for two years.
Crude oil is up a bit, and stock markets around the world are firmer, adding a bit of outside support.
There are worries over drought damage to crops in China, Australia has just had a record-breaking August weekend with temperatures into the top 30's (so at least they've got something to smile about!) and the Indian monsoon season rainfall amounts continue to disappoint.
Some reports suggest that Brazilian crushers may end up buying US beans before long due to the hectic pace of exports in the first half of the year.
Soaring sugar prices might have an impact on corn demand from a sweetener viewpoint.
Early calls for this afternoon's CBOT session: beans up 15-20; wheat and corn 1-2 higher.
