Opening Grain Calls – Futures Broker (9/9/2010)

WHEAT – Up 3 to 5 cents per bushel.
Short-covering technical bounce after the sharp decline on Wednesday.
Position-squaring ahead of Friday’s USDA September crop report that is
expected to show a drop in global wheat production. Prospects for increased
U.S. wheat exports helps underpin wheat futures.
CORN – Down 1 to 2 cents per bushel.
Spillover pressure from a selloff in Globex soy complex that was tied
to falling Dalian futures amid talk of an investigation into trading on the
Shanghai rubber market. Seasonal harvest pressure and
positioning ahead of Friday’s USDA September crop report also cited.
SOYBEANS – Down 10 to 12 cents per bushel.
Seasonal harvest pressure and positioning ahead of Friday’s
USDA September crop report also cited.
* Wet weather in the west and south U.S. Midwest is slowing corn and
soybean harvest and also is unfavorable for maturing crops. Showers in the
U.S. Delta are helping to recharge soil moisture reserves but the rainfall
also is slowing early harvest.