eCBOT Close, Early Call
The overnight grains closed lower, with beans leading the way, with Nov down 15 cents to $8.89 1/2, Dec corn down 5 cents to $3.32 1/2, and Sep wheat 5 cents easier at $5.29 3/4.
Crude oil is lower, despite the news that inventories have dropped 13.2 million barrels in the past month. The dollar is also a little weaker.
The Chinese government said that it will sell off half a million tonnes of beans, 2 MMT of corn and 750,000 MT of wheat next week. That got the market on the defensive. The reality of the situation may be somewhat different however, as the prices they are offering at are above market levels, so they may not find too many takers.
US weather is largely non-threatening, cool and wet is the theme for much of the country.
Weekly export sales were solid for beans, corn and wheat, which may provide some support.
Japan bought 108,000 MT of wheat in a routine tender overnight, with 66,000 MT coming from the US.
Early calls for this afternoon's CBOT session: corn called 4 to 6 lower; soybeans called 12 to 15 lower; wheat called 3 to 5 lower.
Crude oil is lower, despite the news that inventories have dropped 13.2 million barrels in the past month. The dollar is also a little weaker.
The Chinese government said that it will sell off half a million tonnes of beans, 2 MMT of corn and 750,000 MT of wheat next week. That got the market on the defensive. The reality of the situation may be somewhat different however, as the prices they are offering at are above market levels, so they may not find too many takers.
US weather is largely non-threatening, cool and wet is the theme for much of the country.
Weekly export sales were solid for beans, corn and wheat, which may provide some support.
Japan bought 108,000 MT of wheat in a routine tender overnight, with 66,000 MT coming from the US.
Early calls for this afternoon's CBOT session: corn called 4 to 6 lower; soybeans called 12 to 15 lower; wheat called 3 to 5 lower.