Muse At Ten

20/10/10 -- The overnight grains are all higher, partially reversing last night's losses in the case of CBOT wheat and corn, and more than making up for them in the case of beans and meal.

The dollar is firmer and the pound is nervous ahead of Georgie Boy's big day.

The pound has just slipped below 1.57 against the dollar after the minutes of the BoE's last MPC meeting came out, showing that Adam Posen voted to increase QE by GBP 50 billion and arch-hawk Andrew Sentance voted for a 25 basis point hike in interest rates.

Other news just out shows that UK public sector borrowing rose to GBP 16.2 billion in September compared to the GBP14.5 billion that was expected.

Crude oil slipped below USD80/barrel last night on the back of China upping it's interest rates, but has manged to claw it's way back above that this morning, currently standing at USD80.36/barrel.

Egypt split it's tender yesterday, buying 120,000 MT of French, 110,000 MT of US and 60,000 MT of Canadian wheat.

The UK exported more than 200,000 MT of wheat in August, add on what went out in July and the 2010/11 marketing year is off to a flyer with 468,000 MT marching out of the door. That's an increase of 75% on this time last year, according to