Skip to main content

On the Grains Just a reminder that markets are closed for the 4th tomorrow, so this report won’t resume until Friday. We hope you can celebrate our nation’s founding and the values our founders held dear. Markets are mixed in overnight trade. As of 6am corn and wheat were weak but beans were firm. Corn remains under pressure from a sense that mostly favorable weather elsewhere is more than offsetting the persistent rain and soggy conditions threatening the upper Midwest. So far, traders don’t seem concerned about the latest Drought Index Outlook predicting the return of drought conditions over most of the Eastern Corn Belt through September and rapid harvest of wheat continues to pressure that market. Other factors pressuring wheat are reports of better than expected yields for Russian wheat and recent improvement in Australia’s prospects. Soybeans continue to be buoyed by a soaring soybean oil market stemming from talk of trade war between Indonesia and China. Indonesia is threatening tariffs of 100-200% on imports of Chinese manufactured goods to protect its own manufacturing while its primary export to China is palm oil. That leaves China with few retaliatory options besides sanctions on palm oil. Also helping soybeans is the…

This content is for members only.
Register
Already a member? Log in here

Sign Up For The Commstock Report

Sign Up Now to Improve Your Marketing and Protect Your Profits

Subscribe

Already a Subscriber?
Sign In