eCBOT Close, Early Call

The overnight grains closed mostly firmer with beans around 6 cents higher and wheat up 7-8 cents. Corn was mixed, either side of unchanged.

Dubai fears have eased somewhat from Thursday/Friday, so the dollar is back down. Crude oil started off on a firm footing but is slipping away again now, down best part of a dollar at USD75.22/barrel.

Today is first notice day for deliveries against December CBOT contracts, there have been delivery intentions against almost 3,000 soyoil and 5,000 wheat contracts. Physical meal seems to be in short supply, with poor quality beans said to be causing a lack of availability of high protein meal.

That explains why meal was so strong relative to the rest of the complex on Friday, and why front month Dec is currently a USD13/tonne premium over Jan, which in turn is currently running at USD6/tonne over March.

There have only been three delivery notices on corn due to the lateness of the harvest and quality concerns over contract specs there too.

The USDA will report on harvest progress for corn and beans after the close tonight and also on winter wheat plantings.

Early calls for this afternoon's CBOT session: corn called mixed; soybeans called 4 to 6 higher; wheat called 5 to 7 higher.