WHEAT – Up 2 to 3 cents per bushel.
Support from a weak dollar and a technical short-covering
bounce following recent declines.
* Overall satisfactory weather is seen for winter wheat
planting in Russia and in the U.S., but dryness a bit of a
concern in the U.S. east and south and in the far west.
* CBOT wheat to extend gains to $6.86-3/4 per bushel.
CORN – Up 1/2 to 1 cent per bushel.
Corn futures continue to recover after the sharp sell-off
late last week, but trading quiet awaiting the release early
Friday of USDA’s October crop production report. Weak dollar
lending support to corn futures.
* Dry weather boosting harvest of the U.S. 2010 corn crop
and there are no major weather problems expected over the near
term.
SOYBEANS – Up 1 to 2 cents per bushel.
Brisk demand for soybeans, especially by China, continues
to lift soybean futures, but gains limited by positioning ahead
of the release early on Friday of USDA’s October crop
production report.
* Active harvesting of the U.S. 2010 soybean crop is
occurring under nearly ideal fall harvest weather, with no
signs of any significant weather problems for now.