Early Call On Chicago

Posted by Nogger - a legend in his own mind at 13:45 | Categorized as

13/04/12 -- The overnight grains ended barely changed in a "the weekend can't come soon enough" kind of a manner. Beans are around 7 cents higher on the week so far, with corn around 20 cents lower and wheat pretty flat. Crude is slightly easier and the dollar marginally firmer.

Fresh news is extremely thin on the ground. US weather is non-threatening, European weather has improved.

The USDA has reported the sale of 165,000 MT of new crop soybeans to China. They just love it don't they?

Argentine soybean production estimates keep getting smaller. The Buenos Aires Grain Exchange yesterday went 44 MMT for Argentina, the Rosario equivalent now say 43.1 MMT.

I have a funny feeling that once the harvest kicks off things could get lower again.

Early calls for this afternoon's CBOT session: wheat down 1-2 cents; soybeans down 1-3 cents; old crop corn flat to up 2 cents, new crop down 1-2 cents.