Late Call On Chicago

Posted by Nogger - a legend in his own mind at 14:59 | Categorized as

03/02/12 -- The overnight grains finished with beans 6-7 cents firmer, wheat up 4-5 cents and corn mixed up a cent or so to down a cent or so. Crude is a bit firmer, but still languishes just under USD97/barrel. The US dollar is little changed.

Fresh news is limited. Informa are out with their global production numbers mid-session. Stats Canada came out with an all wheat stocks number of 20.962 MMT, a bit higher than trade estimates.

Russia have deferred their planned announcement on grain exports.

South American weather has improved, but production estimates haven't, as yet.

For the week overall so far beans are down 2 cents (to last night's close), with corn up 1 1/4 cents and wheat up 15 1/2 cents.

Late calls for this afternoon's CBOT session: corn up 1-2 cents, wheat up 3-5 cents, beans up 6-8 cents.