Morning Update

Grains are mixed this morning after a sharply higher run overnight amid concerning weather models. Grain Overview Weather has once again become the dominant market driver, and forecasts are now calling for the type of heat many believed would not develop this summer. Record or near record temperatures are expected across portions of the Western…

Wheat futures take the limelight, helping the grain trade recover from overnight weather-driven losses. Grain Overview Overnight grain trade featured selling, especially during the early morning hours after 1:00 a.m., as pressure reasserted itself following GFS and European weather model updates that trimmed Central Plains temperatures from around 100 degrees into the upper 90s. South Dakota…

The grain trade looks towards Friday’s WASDE report and potential weekend weather changes. Grain Overview Yesterday’s selling spilled into the overnight trade, with stability found late in the night session. Oil prices also stabilize and rebounded as the situation in the Persian Gulf again remains concerning, and even though oil and fertilizer products are transiting…

Russia to raise export tax October 16. This morning’s grain trade is mainly firm, with wheat retesting yesterday’s highs on news that the Russian government’s meeting with grain exports resulted in a 41% hike in the country’s wheat export tax from $14/MT to $20, which takes effect October 16. The record pace of Russian wheat…

Argentine wheat crop lowered. The grain trade overnight was mainly firm, led by the wheat trade, as dry conditions remained for Western Russia and the Western plains in the US. The weather premium is being added via French milling wheat, which picked up $3/MT overnight. Russian 12.5%/wheat is at $, with 232/MT up $1/MT today….

Grains bounce from Tuesday’s heavy selling. This morning’s grain trade is firmer, with wheat leading the advance. Russian FOB wheat is firm at $233/MT FOB, up $15 in the last month. It appears Russia is fully sold off for October, and only limited supplies are still available for November as sellers are starting to hold…

Markets struggling with liquidation and lack of friendly input. A lower night session across the board with only corn trying to find stability, as export sales were strong over the past week for corn in the above expectations of 38.8 Mil Bu fro crop. Weakness in soybeans and wheat is occurring now with the lack…