CBOT Early Call

The overnight grains closed with beans up around 6-7c, corn 1-2c higher and wheat mostly a cent or so higher.

Crude oil is dragging itself slowly higher too.

It's likely to be all about book squaring ahead of Friday's USDA report, now that European and Russian/CIS crop losses seem to have been factored into (some would say more than factored into) current levels.

Corn and soybean ending stocks are expected to fall and wheat stocks rise in Friday's report.

US weather conditions look conducive towards another record, or near record, corn and soybean crop this year. Wheat, corn and soybean crop ratings all fell slightly in last night's crop conditions report.

Egypt bought only one cargo of Russian wheat in today's tender, paying USD18.50 more for it than their previous tender little more than a week ago.

Early calls for this afternoon's CBOT session: Corn called 1 to 3 higher; Soybeans called 4 to 6 higher; Wheat called flat to 2 higher.