Early Call On CBOT
18/10/10 -- The overnight grains ended a relatively subdued session with little change. Wheat finished 1/4c higher to 3 1/2c lower, beans were down 2c to up 3 1/4c and corn closed mostly around 2-3c easier.
Neither the dollar nor crude oil are providing much direction either, although both are a bit firmer.
China bought 120,000 MT of US beans overnight, with reports that more sales on the way entirely plausible.
The delayed arrival of rains in Brazil's top soybean state of Mato Grosso means that soybean planting are just 7% done as of Thursday, well behind the 22% pace of last year.
Western Australia's wheat crop will struggle to make even 3.5 MMT this year, according to various media reports. Last season it was 8.25 MMT.
Ukraine's government have finally settled on modest grain export quotas for the remainder of 2010.
Forecast rains for late this week and next in the southern Plains will aid US winter wheat development.
Early calls for this afternoon's CBOT session: corn down 2-3c; beans down 1-3c; wheat mixed.
Neither the dollar nor crude oil are providing much direction either, although both are a bit firmer.
China bought 120,000 MT of US beans overnight, with reports that more sales on the way entirely plausible.
The delayed arrival of rains in Brazil's top soybean state of Mato Grosso means that soybean planting are just 7% done as of Thursday, well behind the 22% pace of last year.
Western Australia's wheat crop will struggle to make even 3.5 MMT this year, according to various media reports. Last season it was 8.25 MMT.
Ukraine's government have finally settled on modest grain export quotas for the remainder of 2010.
Forecast rains for late this week and next in the southern Plains will aid US winter wheat development.
Early calls for this afternoon's CBOT session: corn down 2-3c; beans down 1-3c; wheat mixed.
