CBOT Early Call
The overnights closed higher, in the case of corn and wheat at least partially reversing last night's losses. Beans forged on to close above USD11/bu. Wheat and corn ended around 6c firmer with beans up 7-8c.
Crude oil is around half a dollar firmer.
The dollar is at or close to it's worst against the euro since April.
Despite including the overnight gains Dec CBOT wheat is still down 36c on the week, with Dec corn 7 1/2c lower. Nov beans are the leader for the week, currently 32c higher.
Rain is starting to slowly appear in the Brazilian forecasts, but it isn't a drought buster yet.
Russia and Ukraine are also starting to get some rain, but again they aren't exactly out of the woods yet as far as winter plantings are concerned.
Next Thursday sees the release of the US quarterly stocks report.
Early calls for this afternoon's CBOT session see firmness from the overnights dominating early trade: corn up 5-7c, beans up 7-9c, wheat up 5-7c.
Crude oil is around half a dollar firmer.
The dollar is at or close to it's worst against the euro since April.
Despite including the overnight gains Dec CBOT wheat is still down 36c on the week, with Dec corn 7 1/2c lower. Nov beans are the leader for the week, currently 32c higher.
Rain is starting to slowly appear in the Brazilian forecasts, but it isn't a drought buster yet.
Russia and Ukraine are also starting to get some rain, but again they aren't exactly out of the woods yet as far as winter plantings are concerned.
Next Thursday sees the release of the US quarterly stocks report.
Early calls for this afternoon's CBOT session see firmness from the overnights dominating early trade: corn up 5-7c, beans up 7-9c, wheat up 5-7c.
