eCBOT Close, Early Call
The overnights closed mostly a little lower, with beans down 6c, corn flat to 1c lower and wheat down 3c.
Crude oil is a little easier at a smidge over USD80/barrel, and the dollar is fractionally higher. The US Energy Dept confirmed what the API said Tuesday, that crude stocks fell last week despite analysts expectations for a 1.5 million barrel increase.
Conab estimate Brazil's 2009-10 soybean crop at a record 62.5-63.6 MMT. Wheat output will by 5 MMT, they say, 1 MMT lower than estimates from earlier in the season. That leaves Brazil with a lot of wheat to import next year, and the usual suspect of Argentina is likely to have little to sell.
Weekly export sales were 523,900 MT for beans, 571,200 MT for corn and 264,500 MT for wheat. Pre-report estimates were for bean sales of 500-650,000 MT, corn sales of 350-550,000 MT and wheat sales of 350-550,000 MT.
Latest US weather forecasts are looking a bit drier for next week than yesterday's calls.
Late calls on the CBOT open: corn dn 1-2, beans dn 4-6, wht dn 2-4.
Crude oil is a little easier at a smidge over USD80/barrel, and the dollar is fractionally higher. The US Energy Dept confirmed what the API said Tuesday, that crude stocks fell last week despite analysts expectations for a 1.5 million barrel increase.
Conab estimate Brazil's 2009-10 soybean crop at a record 62.5-63.6 MMT. Wheat output will by 5 MMT, they say, 1 MMT lower than estimates from earlier in the season. That leaves Brazil with a lot of wheat to import next year, and the usual suspect of Argentina is likely to have little to sell.
Weekly export sales were 523,900 MT for beans, 571,200 MT for corn and 264,500 MT for wheat. Pre-report estimates were for bean sales of 500-650,000 MT, corn sales of 350-550,000 MT and wheat sales of 350-550,000 MT.
Latest US weather forecasts are looking a bit drier for next week than yesterday's calls.
Late calls on the CBOT open: corn dn 1-2, beans dn 4-6, wht dn 2-4.