Early Call On CBOT
The overnight grains closed with beans down around 5-6 cents, corn down a penny or so and wheat fractions either side of unchanged.
The dollar is up, although well off the overnight highs, and crude oil is weaker touching 8-month lows overnight.
European debt is the subject on everyone's lips, and what that might do for demand. Personally I don't see it making too much difference, but the market's perception of what it might do is more important right now.
China may have bought more US corn over the weekend, according to some reports. Their state-owned agency Cofco have already obtained customs clearance for the US corn that they bought last week, other reports suggest.
They seem to be setting themselves up to take more. Some reports also suggest that they may have bought Argy corn as well.
The USDA are out tonight with their latest planting progress report, corn is expected 90% complete. They will also report on corn crop conditions for the first time this season.
With corn almost all in, US farmers will now turn their attention to soybean planting. So far weather conditions have been largely ideal.
Early calls for this afternoon CBOT session: corn called 1 to 3 lower; soybeans called 5 to 7 lower; wheat called mixed.
The dollar is up, although well off the overnight highs, and crude oil is weaker touching 8-month lows overnight.
European debt is the subject on everyone's lips, and what that might do for demand. Personally I don't see it making too much difference, but the market's perception of what it might do is more important right now.
China may have bought more US corn over the weekend, according to some reports. Their state-owned agency Cofco have already obtained customs clearance for the US corn that they bought last week, other reports suggest.
They seem to be setting themselves up to take more. Some reports also suggest that they may have bought Argy corn as well.
The USDA are out tonight with their latest planting progress report, corn is expected 90% complete. They will also report on corn crop conditions for the first time this season.
With corn almost all in, US farmers will now turn their attention to soybean planting. So far weather conditions have been largely ideal.
Early calls for this afternoon CBOT session: corn called 1 to 3 lower; soybeans called 5 to 7 lower; wheat called mixed.
