Grains are higher in overnight trading:

Dec Corn +  2 ¼ cents/bu (5.33 4½ )

Nov Soybeans + 3 cents/bu (12.45)

Dec Chi Wheat + 5 ½ cents/bu (7.51 ½ )

Cdn $ +0.00085 (79.50 cents)

WTI Crude Oil -1.22/barrel (76.22)

Grains have traded in a very narrow trading range overnight and have traded both sides of unchanged yet again.  Tight global stocks of milling wheat continue to support wheat futures, and that strength in wheat is really supporting the entire grain complex.

Market bulls are hopeful to see stronger sales in the USDA Weekly Export Sales Report due out later this morning.

In the meantime, traders will start to balance positions ahead of Tuesday’s USDA October Crop Report, which as shown below, has a wide range of expectations in terms of trade guesses for overall ending stock projections: