Grain futures traded on Globex overnight were lower as of 1200 GMT Thursday.

                  Last       Change   High      Low       Volume
March Corn        $378 1/4   -6 1/4   3.84 1/4  3.78        3351
March Wheat       $5.86 2/4  -8 3/4   5.96 2/4  5.83        1364
March Soybeans    $9.75 2/4  -7       9.84 3/4  9.74 2/4    1661
March Soymeal     $308.5     -3       311       308          371
March Soyoil      $32.62     -0.29    32.91     32.50        743

TOP STORIES:

Canadian 2009 Crop Acres Still Up In The Air - Analysts

  WINNIPEG (Dow Jones)--Agriculture and Agri-Food Canada's initial estimates of
what farmers will plant in 2009, released Monday, are a good "starting point,"
said industry analysts, who expressed skepticism about some crop forecasts.

Philippines To Buy 950,000 Tons Rice Locally In '10 - Official

  MANILA (Dow Jones)--The Philippine National Food Authority plans to buy up to
950,000 metric tons of unmilled rice in the local market this year, a senior
agriculture official said Thursday.

STORIES OF INTEREST:

Syria Cancels Tender For 200,000 Tons Wheat, Re-Issues Tender

  CAIRO (Dow Jones)--Syria's state-owned General Authority for Cereal
Processing and Trade, or Hoboob, said Thursday it canceled a tender to buy
200,000 metric tons of soft wheat, on a cost and freight basis.

India Basmati Rice Exports Still Not Competitive - Exec

  SINGAPORE (Dow Jones)--India's basmati rice exports haven't gotten much of a
boost from the recent reduction in the state-set minimum export price, as
international prices are still much lower, the chairman of a Delhi-based rice
export firm said Thursday.

India Ups Support Price For Rapeseed To INR18,300/Ton

  NEW DELHI (Dow Jones)--India's government has raised the state-fixed support
price for rapeseed by INR300 per metric ton to INR18,300/ton, a Cabinet
spokesman said Thursday.

Emerald To Close Wheat,Barley Sales Pools To New Deliveries

  CANBERRA (Dow Jones)--Australia's Emerald Group said Thursday it will this
week close all of its wheat and barley collective sales pools in Western
Australia, New South Wales and Queensland to new deliveries.

Record Rally In US Farmland Mkt Quickly 'Wearing Thin'

  CENTRAL CITY, Neb. (Dow Jones)--The U.S. agricultural real estate market may
hit some bumpy terrain in 2009, after cruising to an unprecedented price
plateau during 2008.

Brazil Govt Likely To Scrap New Import Measure

  SAO PAULO (Dow Jones)--A controversial import measure announced in Brazil
Tuesday will likely be scrapped by the government this week, the local Estado
newswire reported Wednesday.

MARKETS:

CBOT Rice Review: Ends Slightly Lower, Trades Tight Range

  CHICAGO (Dow Jones)--Chicago Board of Trade rice futures extended their slide
Wednesday, ending slightly lower as the market traded within a narrow range.

CBOT Soy Review: Climb On Weather Concerns, Tech Support

  CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures recovered from a
lower start, climbing Wednesday as Argentina weather concerns remained a
dominant factor with technical buying featured also.

CBOT Corn Review: Rebounds As Argentina Concerns Support

  CHICAGO (Dow Jones)--Chicago Board of Trade corn futures rebounded Wednesday,
as concerns about the crop in Argentina continue to give the market underlying
support, traders said.