The early call is steady/better across the floor. Crude oil is lower while the $ is slightly higher, a negative combination for all the grains. Malaysian palm oil fell 67 ringgit today. Traders are getting ready for the USDA Crop Report Friday am and some evening up ahead of this report is likely tomorrow. I will have all the trade averages later today.

There were no deliveries in beans, meal or corn but 3400 wheat and 2400 oil was delivered.

Australia's Weather Bureau said the likelihood of an El Nino developing over coming weeks and months is increasing but only a medium intensity one is currently expected. Some rain has fallen recently in eastern Argentine wheat areas this week but the western growing areas remain very dry with below normal rain forecast the next 10 days. Beneficial rain is expected to fall again today in the North China Plain, which will help the corn and bean crops. Welcome rain is forecast in India's bean belt the next several days as monsoon rains improve.

The US southwest winter wheat belt will enjoy favorable harvest weather the next several days. Rain is needed in the Delta bean belt with only scattered, light rain forecast Sun-Mon. The Midwest will benefit from scattered rain and moderate temps the rest of this week and the 6-10 day calls for normal to above normal rain, which should help keep condtions favorable. ---Vic Lespinasse