? We have seen sharp correction on account of fears of government intervention and bearish USDA report stating global Soybean production would be up sharply but after sharp upside in crude oil futures during evening session oilseeds on CBOT were sharply up.

? Farmer sales of corn and soybean were the largest in several weeks as futures rallied 9 percent amid frost concerns with some of the late developing crop. ? Up to 20 percent of corn and soybean in the northern Midwest could be damaged by frigid temperatures in the forecast next week, which is immature because it was planted late.

Late soy pod setting in the United States to be enhanced by warm temperatures this week but there are outlooks for colder weather next week ? USDA late on Monday said 17 percent of the U. S. soybean crop was dropping leaves, up from 7 percent a week ago but well behind the 36 percent five-year average.

USDA also said 68 percent of the crop was good to excellent; unchanged from a week ago, up from 57 percent a year ago and in line with trade estimates for a steady to 1 percentage point decline in conditions. ? Indian crop has revived after late rains in September and the crop in large producing countries also look very good.

? We expect oilseeds to trade up for the day and Soya oil and Palm Oil looks good to buy for potential upside if 2-2.5% during the day.