A slightly higher start is likely this am, 1-2 wheat, 2-4 corn and 1 beans following similar overnight gains. The $ is a bit lower this am and crude oil is slightly higher, a friendly combination for the grains.

Deliveries were 1300 lots in wheat to Feb 5, 2000 corn to Feb 11, 430 beans to Feb 12 and 4900 oil to Feb 23. There were no meal deliveries. Oil and beans were at the high end of trade ideas, wheat at the low end, corn and meal about as expected. There isn't much fresh news otherwise so far this am.

Argentina will be mostly dry the next 5 days or longer, which will be welcome as this dry period will help too wet areas dry out and keep corn and bean prospects in very good shape. Brazil is forecasting scattered rain from Parana north through Mato Grasso today through Wednesday with mostly dry weather likely in Rio Grande. Rain in Mato Grasso will slow bean harvesting, which remains ahead of normal despite all the wet weather there recently.

No cold weather threats are in sight for the soft or hard red winter wheat belts in the US Midwest or southwest, respectively.