The Early Vibe

Posted by Nogger - a legend in his own mind at 08:41 | Categorized as

27/06/11 -- The overnight markets are all lower, continuing with the recent theme. The firmer dollar is clearly aiding the negative sentiment that's around at the moment.

The euro remains weak ahead of this week's Greek vote on austerity, and the pound is caught in the middle, falling to 1.5930 against the USD, but steady at around 1.1270 against the euro.

NYMEX crude is more than a dollar lower, and at 8.30am London time only 3 cents away from falling under USD90/barrel for the first time this year. Brent is down the best part of two dollars to it's lowest since mid-February.

At home, it rained heavily across much of the UK Friday and into the early part of Saturday followed by a pretty decent weekend. Temperatures are set to soar today followed by the chance of heavy showers later in the week.

It also rained heavily over the weekend in Ukraine, with Kiev picking up 35mm, whilst Russian Central and Southern regions also got some beneficial moisture.

On Thursday we have the USDA stocks and June plantings numbers. Prior to that we have crop conditions, spring plantings and winter wheat harvest progress tonight.

Fund money looks like it's shed around a third of it's length in Chicago corn in the past two weeks, and may continue to lighten the load ahead of Thursday and on the back of continued Greek debt concerns.

Russia are officially back in the export market Friday.

Lower looks to be the path of least resistance.

Can I also just say, come on Andy, you useless Scottish git, just to cover myself.