Early Call On CBOT
The overnights closed mostly a little firmer with beans 4-5c higher and wheat & corn up 1-2c.
Crude oil is more than a dollar easier, which may limit any attempts for the grains to rally too high today. The leaky pipeline between Canada and the US might be open again by the end of the week.
Corn is supported by ideas that final US yields will ultimately end up lower than the USDA's revised 162.5bpa estimate from Friday. Also talk that South Korea is replacing wheat purchases it isn't going to get from the Black Sea with corn instead.
Sowing of winter crops in Russia and Ukraine is still well behind schedule, with the window starting to close.
Frost potential in Canada is also seen as a supportive factor, although it unlikely to make much difference to wheat and canola yields it could cut quality.
They are still waiting for rain to arrive in Central Brazil so that they can begin planting. Some forecasts are starting to show rain arriving in the 10-14 day time frame.
Egypt is tendering for wheat again today, the inclusion of France in the list of suitable sellers probably means that US wheat won't get a look in, although the euro has improved against the USD since lst week.
Early calls for this afternoon's CBOT session: corn and wheat up 1-2c, beans 2-4c higher.
Crude oil is more than a dollar easier, which may limit any attempts for the grains to rally too high today. The leaky pipeline between Canada and the US might be open again by the end of the week.
Corn is supported by ideas that final US yields will ultimately end up lower than the USDA's revised 162.5bpa estimate from Friday. Also talk that South Korea is replacing wheat purchases it isn't going to get from the Black Sea with corn instead.
Sowing of winter crops in Russia and Ukraine is still well behind schedule, with the window starting to close.
Frost potential in Canada is also seen as a supportive factor, although it unlikely to make much difference to wheat and canola yields it could cut quality.
They are still waiting for rain to arrive in Central Brazil so that they can begin planting. Some forecasts are starting to show rain arriving in the 10-14 day time frame.
Egypt is tendering for wheat again today, the inclusion of France in the list of suitable sellers probably means that US wheat won't get a look in, although the euro has improved against the USD since lst week.
Early calls for this afternoon's CBOT session: corn and wheat up 1-2c, beans 2-4c higher.
