Grains are mixed in overnight trading:

Mar Corn + 1 cent/bu (5.91 ¼ )

Jan Soybeans + 3 ¼ cents/bu (12.62 ¾ )

Mar Chi Wheat – 8 ¼ cents/bu (7.78 ¾ )

Cdn $ -0.00120 (77.68 cents)

WTI Crude Oil -0.75/barrel (69.98)

Grain futures traded both sides of unchanged overnight, with all major grains currently sitting well off of their lows for the evening session.  At one point, corn was down 2 ¾ cents/bu, soybeans were down 4 cents/bu and Chicago wheat was down 16 ½ cents/bu.  Corn and soybeans continue to see good support, based on tremendous domestic USA demand, while wheat is languishing due to technical weakness, and prospects for good southern hemisphere production.

Later this morning, NOPA will release it’s November USA soybean crush data, with the trade expecting a big crush number.  As well, the Energy Information Association is expected to show big weekly ethanol production data as well today.

Rains fell in central Argentina over the past 24 hours, but chances for more rains over the next 10 days look to be confined to fringe production zones.  In Brazil, rains fell in the north and east yesterday, with the next 10 days looking wet in the north and dry in the south.