eCBOT Close, Early Call
The overnights closed higher with wheat for once leading the way finishing around 10c up, with beans around 8c higher and corn 5-6c firmer.
The dollar is back under pressure today and crude oil has popped it's head back up above USD80/barrel.
Crude inventories fell a surprising 3.28 million barrels last week, the American Petroleum Institute said yesterday. If the US Energy Dept concur with those figures later today it could give crude a further boost this afternoon. The trade had been expecting a 1.5 million barrel increase.
The Federal Reserve’s announce their latest assessment of the US economy later today. Wall Street is expected to open moderately higher ahead of the news.
Gold has hit another all-time high of USD1,092.90/oz. Investment money looking for a hedge against inflation may be stealthily returning to agri commodities too.
US weather forecasts aren't as friendly for next week as they were a few days ago. Rain is seen returning early next week before a second system arrives November 13 and a third November 16, according to QT Weather.
Early calls for this afternoon's CBOT session: corn called 4 to 5 higher; soybeans & wheat called 8 to 10 higher.
The dollar is back under pressure today and crude oil has popped it's head back up above USD80/barrel.
Crude inventories fell a surprising 3.28 million barrels last week, the American Petroleum Institute said yesterday. If the US Energy Dept concur with those figures later today it could give crude a further boost this afternoon. The trade had been expecting a 1.5 million barrel increase.
The Federal Reserve’s announce their latest assessment of the US economy later today. Wall Street is expected to open moderately higher ahead of the news.
Gold has hit another all-time high of USD1,092.90/oz. Investment money looking for a hedge against inflation may be stealthily returning to agri commodities too.
US weather forecasts aren't as friendly for next week as they were a few days ago. Rain is seen returning early next week before a second system arrives November 13 and a third November 16, according to QT Weather.
Early calls for this afternoon's CBOT session: corn called 4 to 5 higher; soybeans & wheat called 8 to 10 higher.
