eCBOT Close, Early Call
The overnight grains closed with beans, corn and wheat all around 8 cents easier - when was the last time that that happened??
Crude looked like it might have been attempting to break and hold above USD80/barrel yesterday, but failed and has subsequently slipped back to USD78.60/barrel.
Yesterday's normal stocks data from the US Energy Dept. appear to have been delayed until today, a one million barrel increase in inventories is what the market expects.
Gold has hit fresh all-time highs again, the dollar is a bit stronger for a change and the Dow is expected to open lower after hitting 13-month highs yesterday.
Chinese soybean imports are picking up again. After dropping to 2.5 MMT in October, they will import 3.5 MMT this month, rising to 4 MMT in Dec and Jan, say CNGOIC.
They also held their forecast for this season's corn crop unchanged at 163 MMT, despite just about everybody else coming in at 145-155 MMT.
On the weather front, the latest GFS model run looks wetter and more threatening for harvesting delays in the heart of the Midwest Corn Belt beginning Saturday and continuing through Monday, says Gail Martell of Martell Crop Projections.
Attention is already starting to focus on South America, where essentially parts of Brazil are too wet, and the western half of Argentina is too dry.
Egypt are tendering for wheat, it's unlikely that the dollar has fallen enough for US origin to win but you never know.
Early calls for this afternoon's CBOT session: corn down 6-8, beans down 7-9, wht down 6-8.
Unless the funds are willing to come in and push it some more, feel that we might see the board ultimately close sharply lower tonight.
Crude looked like it might have been attempting to break and hold above USD80/barrel yesterday, but failed and has subsequently slipped back to USD78.60/barrel.
Yesterday's normal stocks data from the US Energy Dept. appear to have been delayed until today, a one million barrel increase in inventories is what the market expects.
Gold has hit fresh all-time highs again, the dollar is a bit stronger for a change and the Dow is expected to open lower after hitting 13-month highs yesterday.
Chinese soybean imports are picking up again. After dropping to 2.5 MMT in October, they will import 3.5 MMT this month, rising to 4 MMT in Dec and Jan, say CNGOIC.
They also held their forecast for this season's corn crop unchanged at 163 MMT, despite just about everybody else coming in at 145-155 MMT.
On the weather front, the latest GFS model run looks wetter and more threatening for harvesting delays in the heart of the Midwest Corn Belt beginning Saturday and continuing through Monday, says Gail Martell of Martell Crop Projections.
Attention is already starting to focus on South America, where essentially parts of Brazil are too wet, and the western half of Argentina is too dry.
Egypt are tendering for wheat, it's unlikely that the dollar has fallen enough for US origin to win but you never know.
Early calls for this afternoon's CBOT session: corn down 6-8, beans down 7-9, wht down 6-8.
Unless the funds are willing to come in and push it some more, feel that we might see the board ultimately close sharply lower tonight.
