eCBOT Close, Early Call
The overnight's closed firmer on the back of a sharply weaker dollar. Beans and wheat finished around 7-8 cents higher, with corn up 4-5 cents.
Dry weather and above normal temperatures over the weekend will have sparked a surge in harvest activity, particularly with Hurricane Ida due to hit land tomorrow, bringing another round of soaking rains for the Delta.
The USDA are out tonight with their harvest progress and wheat planting progress report. Last Sunday the US soybean harvest was 51% done, and the corn harvest 25% complete, analysts expect that tonight those will have increased to around 75% and 35-40% respectively.
The Indian government might release 3 MMT of wheat onto the domestic market, according to media gossip. Is that the same 3 MMT that they were going to release two months ago we ask ourselves?
Jordan are tendering for 100,000 MT of wheat and Taiwan will seek 64,700 MT of US wheat on Wednesday.
The wheat harvest Down Under is progressing, although domestic prices are very depressed due to a strong Australian dollar.
The US dollar meanwhile is sharply weaker, although off earlier lows, which has caused crude oil to retreat from this mornings highs.
Early calls for this afternoon's CBOT session: corn called 3 to 5 higher; soybeans called 7 to 10 higher; wheat called 6 to 8 higher. I think that we might see session highs set early in the day, unless some serious fund buying kicks in.
Dry weather and above normal temperatures over the weekend will have sparked a surge in harvest activity, particularly with Hurricane Ida due to hit land tomorrow, bringing another round of soaking rains for the Delta.
The USDA are out tonight with their harvest progress and wheat planting progress report. Last Sunday the US soybean harvest was 51% done, and the corn harvest 25% complete, analysts expect that tonight those will have increased to around 75% and 35-40% respectively.
The Indian government might release 3 MMT of wheat onto the domestic market, according to media gossip. Is that the same 3 MMT that they were going to release two months ago we ask ourselves?
Jordan are tendering for 100,000 MT of wheat and Taiwan will seek 64,700 MT of US wheat on Wednesday.
The wheat harvest Down Under is progressing, although domestic prices are very depressed due to a strong Australian dollar.
The US dollar meanwhile is sharply weaker, although off earlier lows, which has caused crude oil to retreat from this mornings highs.
Early calls for this afternoon's CBOT session: corn called 3 to 5 higher; soybeans called 7 to 10 higher; wheat called 6 to 8 higher. I think that we might see session highs set early in the day, unless some serious fund buying kicks in.
