Grain News and Opening Calls / Futures Brorker

WHEAT – Down 2 to 4 cents per bushel.
Concerns about China’s interest rate hike weighed on market but drop expected to be limited by weakness in U.S. dollar and
low-quality of Australia’s crop.
* China says supplies of wheat are sufficient.
* Russian wheat output fell by 32.7 percent to 41.5 million tonnes in 2010 – state statistics office Rosstat. CORN =down 2 cents to up 2 cent per bushel.
Weakness during overnight session expected to weigh at open but two-sided trade expected amid concerns about crop in Argentina as well as strong world demand.
SOYBEANS – Up 5 to 7 cents per bushel
Strength in overnight session supportive, along with weak dollar and optimism about export prospects.
* China December soy imports revised downward to 5.4 million tonnes from 5.8 million tonnes – Commerce Ministry.
* China to release 300,000 tonnes of soy from reserves on Tuesday even though previous sale attracted no bidders –