CBOT Early Call

The overnight trade closed mixed with beans mostly 2-3 cents higher, corn 2-3 cents easier and wheat 1-2 cents lower.

Crude oil and the dollar are both slightly weaker.

It looks like we will see the market take a bit of a breather from the heavy action witnessed Weds/Thurs heading into a long weekend. That most likely will mean a lower trend tonight.

Soybeans closed higher overnight, and there is a feeling around that the USDA's acreage numbers are over optimistic, whilst the old crop stocks situation is tighter than anticipated.

The USDA are out again next week with their WASDE and ending stocks estimates, they should drop old crop ending stocks for corn and soybeans, but raise them for wheat after this week's numbers, but who can tell? This is the USDA we are talking about here.

The Argy soybean harvest is over at around a record 55 MMT and the corn harvest there is all but finished too. Winter wheat plantings are past halfway.

Hot and dry weather may have cut European and Black Sea grains production it seems. Early barley harvesting results are pretty disappointing in most of this region.

Early calls for this afternoon's CBOT session: beans called 2-4 cents higher, corn and wheat down 1-3 cents. Informa are out midsession with their global production numbers.