eCBOT Close, Early Call

The overnight grains closed mixed, with beans around 6 cents higher, corn 2-3 cents lower and wheat around 4-5 cents easier.

Beans are still getting support from the Chinese influence, where futures set 2009 highs Monday on ideas that the government's recently announced support programme will underpin prices.

Reports that China may import more than June's record 4.71 MMT of soybeans in December, according to the CNGOIC is also supportive. The USDA confirmed the sale of five cargoes of US soybeans to China on Friday.

The September soybean contract settled 1.8% higher at CNY4,085 on China's Dalian Exchange.

The USDA will report tonight on harvest progress made during the past week. What US corn isn't in already might have to wait until after Christmas with what QT Weather are calling a “whopper of a snowstorm” set to cross the Plains, producing strong winds and heavy wet snow from Kansas to Michigan.

Outside markets aren't lending too much support, with crude oil weaker - below USD75/barrel - even gold is lower today, and Wall Street expected to open easier.

Bangladesh is tendering for 100,000 MT of wheat.

Early calls for this afternoon's CBOT opening: corn called 2 to 4 lower; soybeans called 4 to 6 higher; wheat called 4 to 6 lower.

Without fund support there doesn't seem like there's much around to stop wheat sliding to double digit losses today.