eCBOT Close, Early Call
Having traded higher for most of the session, the overnights closed lower with beans down around 7-10 cents, corn 4-5 cents easier and wheat off 2-3 cents.
Crude oil is down, but still comfortably above $70/barrel after the US Energy Dept yesterday cut it's stocks estimate to the lowest in eight months.
US weather forecasts are less frost-threatening than they were a couple of days ago. Although there is still time for some crop losses for late developing corn and beans.
China's corn crop may be significantly lower than official estimates after drought cut production sharply in August, according to some reports.
The dollar fell to a one-year low against the euro as investors start to buy into the idea that the recession is over, and hence a bit more risk is in order.
Weekly export sales from the USDA were pretty strong once again, with China again a featured buyer of soybeans. Wheat export shipments were the highest so far this marketing year.
Japan bought 75,000 MT of US wheat in a 117,000 MT tender.
Early calls for this afternoon's CBOT session: corn called 3 to 5 lower; beans called 5-10 lower; wheat called 2-3 lower.
Crude oil is down, but still comfortably above $70/barrel after the US Energy Dept yesterday cut it's stocks estimate to the lowest in eight months.
US weather forecasts are less frost-threatening than they were a couple of days ago. Although there is still time for some crop losses for late developing corn and beans.
China's corn crop may be significantly lower than official estimates after drought cut production sharply in August, according to some reports.
The dollar fell to a one-year low against the euro as investors start to buy into the idea that the recession is over, and hence a bit more risk is in order.
Weekly export sales from the USDA were pretty strong once again, with China again a featured buyer of soybeans. Wheat export shipments were the highest so far this marketing year.
Japan bought 75,000 MT of US wheat in a 117,000 MT tender.
Early calls for this afternoon's CBOT session: corn called 3 to 5 lower; beans called 5-10 lower; wheat called 2-3 lower.
