eCBOT Close, Early Call
The overnights closed mixed, with beans around 2-3 cents higher, wheat up a cent or so and corn down around a cent.
A firmer dollar is negative, as was yesterday's American Petroleum Institute's 4.3 million barrel increase in crude oil stocks. The Energy Dept are out at the same time as the CBOT opening with their estimate. Crude currently stands around $4 under yesterday's ten month $75/barrel high.
US temperatures are set to dip into the low 40's, possibly even the very upper 30's Sunday/Monday. It seems that a hard freeze in 2009 would need to happen early in September to have a damaging effect on the corn yields, and that is not very likely, says Gail Martell of Martell Crop Projections.
The farmer ban on beef and grain sales in Argentina is mildly supportive, although they've hardly been aggressive sellers of late given the sharply reduced crop they've suffered.
Strong export interest from China remains, and the government there only sold a token 9,600 MT of their own stocks at this week's auction.
There's concern developing over the prospects for Australia's wheat crop as the east sees temperatures as much as 16 degrees above normal.
Early calls for this afternoon's CBOT session: corn called 1 to 2 higher; soybeans called 2 to 4 higher; wheat called 2 to 4 higher.
A firmer dollar is negative, as was yesterday's American Petroleum Institute's 4.3 million barrel increase in crude oil stocks. The Energy Dept are out at the same time as the CBOT opening with their estimate. Crude currently stands around $4 under yesterday's ten month $75/barrel high.
US temperatures are set to dip into the low 40's, possibly even the very upper 30's Sunday/Monday. It seems that a hard freeze in 2009 would need to happen early in September to have a damaging effect on the corn yields, and that is not very likely, says Gail Martell of Martell Crop Projections.
The farmer ban on beef and grain sales in Argentina is mildly supportive, although they've hardly been aggressive sellers of late given the sharply reduced crop they've suffered.
Strong export interest from China remains, and the government there only sold a token 9,600 MT of their own stocks at this week's auction.
There's concern developing over the prospects for Australia's wheat crop as the east sees temperatures as much as 16 degrees above normal.
Early calls for this afternoon's CBOT session: corn called 1 to 2 higher; soybeans called 2 to 4 higher; wheat called 2 to 4 higher.
