eCBOT Close, Early Call

The overnight grains closed firmer going into the last session before Thanksgiving with wheat around 10-12 cents higher, beans up 7-9 cents and corn 7-8 cents firmer.

Crude oil is modestly firmer ahead of this afternoon's Energy Dept stocks data. Yesterday crude fell almost 2% after the American Petroleum Institute said US crude inventories rose by 3.4 million barrels last week.

The dollar is lower again, and gold has set another all-time high. US jobless claims came in at 466k, better than the 500k expected.

Japan bought 106,000 MT of wheat in its regular tender, with 85,000 MT of it US wheat. Jordan have reportedly bought 150,000 MT of Black Sea origin wheat. Egypt are tendering for wheat today, the results of that will be interesting as reports circulate of them maybe having to cast their net a little wider.

Availability of Russian first grade milling wheat meeting Egypt's strict max 1% bug damage criteria seems to be tightening. In Ukraine it probably didn't ever exist this season.

US wheat hasn't got a look in with Egypt since September, but the USDA has today announced a sale of 100,000 MT of wheat to Iraq.

South American wheat yields and quality also look like they are being adversely affected by weather, the same can also be said of Australian grain.

The USDA's weekly export sales report will be delayed until Friday because of the holiday. It would be of no surprise to see large soybean sales and shipments to China once again.

Illinois corn harvesting was 5-6 weeks late at just 60% finished, the USDA said Monday. Iowa corn harvesting advanced to 78% complete and in Missouri it was 76%. Extremely wet corn that has slowed down harvesting may be evidence of freeze damage, says Gail Martell of Martell Crop Projections.

The next three days will see rain and snow miss the wet areas of Missouri and Illinois, unfortunately December heralds in another round of rain set to hit these soggy states Tuesday, says QT Weather's Allen Motew.

Early calls for this afternoon's CBOT session: corn called 5 to 7 higher; soybeans called 8 to 10 higher; wheat called 8 to 12 higher.