Grain futures traded on Globex overnight were lower at 12:45 GMT Monday.

Last Change High Low Volume

Jul Corn $6.27 +1 1/2 6.31 1/2 6.24 11,665

Jul Wheat $6.42 1/2 -7 1/2 6.51 1/2 6.40 1/2 7,687

Jul Soybeans $14.86 3/4 -6 3/4 14.98 1/4 14.284 12,004

Jul Soymeal $427.7 -0.7 430.0 425.8 5,411

May Soyoil $55.23 -0.30 55.66 55.20 8,501

TOP STORIES:

AgRural Trims Brazil 2011-12 Soybean View 0.7% To 66.24M Tons

SAO PAULO (Dow Jones)--Commodities consultancy AgRural on Monday trimmed its estimate for Brazil's 2011-12 soybean crop by 0.7% from last month to 66.24 million metric tons, as dry weather in northeastern Bahia state added to drought-related losses elsewhere.

STORIES OF INTEREST:

USDA Says 220,000 Tons Of Soybeans Sold To China In 2012-13

WASHINGTON, (Dow Jones)--Private exporters reported to the U.S. Department of Agriculture export sales of 220,000 metric tons of soybeans for delivery to China during the 2012-2013 marketing year, the USDA said Monday.

Saudi Arabia Completes Purchase Of 450,000 Tons Of Hard Wheat

RIYADH (Zawya Dow Jones)--Saudi Arabia has completed its purchase of 450,000 tons of hard wheat for delivery from July to September, the government board for grain supply said on Sunday.

THE MARKETS:

Strong Demand,Tight Supply Views Seen Limiting Corn, Soy Delivery Intentions

CHICAGO (Dow Jones)--Deliveries against Chicago Board of Trade May corn and soybean futures contracts on first-notice day Monday are expected to remain light in an environment where strong demand is keeping supplies tight.

-By Rui Videira, Dow Jones Newswires; +44-20-7842-9221; rui.videira@dowjones.com