Morning Calls & Comments (12/9)
Corn: 3 to 5¢ higher.
Soybeans: Steady to 2¢ lower.
Wheat: HRW and SRW steady to 2¢ higher, spring wheat steady to 1¢ lower.
Soybean futures rose to fresh 2 1/2-month highs overnight before fading late in the session. Corn and winter wheat futures firmed overnight. Markets were subdued and held to narrow ranges as traders awaited USDA’s monthly Supply & Demand Report at 11 a.m. CT. Malaysian palm oil futures rose 1.2%, capping a modest weekly gain on prospects for biofuels-driven demand from Indonesia. Front-month crude oil firmed slightly but remained near one-year lows. U.S. stock index futures signal a firmer open and the U.S. dollar index is little changed.