eCBOT Close, Early Call

The overnight grains closed narrowly mixed, despite having been in positive territory for most of the morning. Beans closed flat to a cent firmer, corn down 1-2 cents and wheat down fractions of a cent.

Neither crude oil, the US dollar or the stock markets are doing anything too exciting either, all just showing small fluctuations either way.

Whether last night's stronger close across the board was some sort of floor and really means anything, or is it simply a selling opportunity, only time will tell.

There is very little change in any of the fundamentals that's for sure. Informa are out later today with their latest world production estimates, maybe they can throw some pearls our way?

Beneficial thunderstorms are seen returning to Argentina's grain belt. A powerful storm is developing in the US Southern Plains, with more rain predicted for Texas-Oklahoma wheat, says Gail Martell of Martell Crop Projections.

Jordan bought 100,000 MT of Black Sea wheat overnight, and Japan is looking for 85,000 MT of mostly US wheat tomorrow. Iraq might also be in the market, according to some reports.

South Korea is looking for 55,000 MT of corn, and China is to sell around 200,000 MT of state-owned soybean reserves.

Early calls for this afternoon's CBOT session: soybeans called flat; wheat and corn 1-2 cents lower.