Grains are higher in overnight trading:

Dec Corn + 4 cents/bu (5.36 ½ )

Nov Soybeans + 3 ½ cents/bu (12.80 ½ )

Dec Chi Wheat + 8 ¾ cents/bu (7.15 ¼ )

Cdn $ -0.00075 (78.79 cents)

WTI Crude Oil -0.51/barrel (74.78)

Grains are enjoying a nice bounce this morning, following yesterday’s steep losses.  Corn and wheat have traded higher during the entire evening session, while beans have traded both sides of unchanged.  The lower market yesterday was primarily attributed to good USA harvest progress, a surging US dollar, and to weakness in outside commodity and equity markets.  The stronger US dollar makes US grains more expensive for the rest of the world.  Wheat is leading the rally this morning, as more international tenders are being issued.

This morning, US equity futures are slightly higher,  while commodities are mixed.

Tomorrow will see the USDA issue their Quarterly Stocks Report, which is infamous for throwing some curveballs at the grain trade.  Trade volumes will decline going into that noon ET report tomorrow, as traders balance their positions, in case of unexpected surprises.

Rains fell in Mato Grosso over the past 24 hours, and continue into the heart of the Brazilian production areas over the next 5 days.  Moisture is forecast to build through the middle of October.