09/05/2024 Taxes, Tariff’s and Oh My

Above you will find today’s installment of Morning Market Talk. Grain Setback is Healthy You can click on the picture above to take you to this morning’s episode. https://youtu.be/S7kutYspRSI On the Grains Good morning as we round out this first week in September we have gained some optimism in corn and soybean prices. Since Frist Notice day lows, December corn has rallied 29 cents and November beans are up 60 cents. While what feels better, looking at the computer screen, it might not feel as good for producers in the northern belt that have watched crops go backwards. Wheat surely has been the driver as we have seen that rally almost 55 cents on the Chicago December contract, yet Paris Milling wheat has $10/mt to go yet before we hit major resistance, so is there more in the cards, I believe so. Ukraine drought conditions are expanding underpinning the market. We advised last week to put hedge orders in at $4.22 December and I would hold with that and the November Soybeans at $10.43. Cash basis, in the west, remains on fire with old crop pushes being paid west of I35 and good enough bids that are getting trucks moving…