Early Call On CBOT
The overnights closed lower with beans down 3-5 cents and corn & wheat 2-3 lower.
The dollar is higher, especially against the sickly euro. Crude oil is back under pressure despite the US saying that they won't allow any fresh drilling in the Gulf of Mexico.
Export sales from the USDA were very poor and there was no sign of China buying more corn (or soybeans for that matter). That might set the tone for a weak opening this afternoon.
US weather is wet for next week, that may help newly planted corn but may hinder soybean sowing getting wrapped up but there's plenty of time for that to get sorted yet.
Traders will be keeping an eye on Canada where there has been far too much rain. Spring wheat and rapeseed doesn't have an enormous planting window here, and there are legitimate concerns over production losses to both.
Early calls for this afternoon's CBOT session: corn called 2 to 3 lower; soybeans called 3 to 5 lower; wheat called 2 to 3 lower.
I think we may see wheat and corn lead the way down, with some pre-weekend selling in beans also likely to feature. We could end tonight with more significant losses than these opening calls I feel.
The dollar is higher, especially against the sickly euro. Crude oil is back under pressure despite the US saying that they won't allow any fresh drilling in the Gulf of Mexico.
Export sales from the USDA were very poor and there was no sign of China buying more corn (or soybeans for that matter). That might set the tone for a weak opening this afternoon.
US weather is wet for next week, that may help newly planted corn but may hinder soybean sowing getting wrapped up but there's plenty of time for that to get sorted yet.
Traders will be keeping an eye on Canada where there has been far too much rain. Spring wheat and rapeseed doesn't have an enormous planting window here, and there are legitimate concerns over production losses to both.
Early calls for this afternoon's CBOT session: corn called 2 to 3 lower; soybeans called 3 to 5 lower; wheat called 2 to 3 lower.
I think we may see wheat and corn lead the way down, with some pre-weekend selling in beans also likely to feature. We could end tonight with more significant losses than these opening calls I feel.
