Evening Up of Grain Positions Likely Ahead of Holiday
A mostly steady/easier start is expected this am, 1-2 lower wheat and corn, steady/mixed beans. There were no deliveries in beans or meal again this am. 1900 wheat, 146 corn and 2100 oil were put out. The outside markets are only slightly changed this am, not enough to impact grain prices much either way.
A lot of evening up is likely today ahead of the 3 day holiday weekend, especially late in the session. The big USDA Sep crop report will be out one week from today. I will have all the trade estimates by early next week.
Argentine farmers strike is scheduled to end tonight but more protests are likely in the future.
Much needed rain of up to .6" fell in the dry parts of eastern Australia's wheat belt the last 24 hours and more of the same is forecast today. Still more rain will be needed again soon to end drought conditions in this area, northern New South Wales state. There is a freeze threat in northern parts of the Canadian prairies early next week but any damage should be limited.
The US Midwest will be mostly mild and dry the next several days, through early next week. The 6-10 day calls for warm temps but there is a chance for much colder weather the weekend of Sep 11-13, which the market will watch closely. ---Vic Lespinasse
A lot of evening up is likely today ahead of the 3 day holiday weekend, especially late in the session. The big USDA Sep crop report will be out one week from today. I will have all the trade estimates by early next week.
Argentine farmers strike is scheduled to end tonight but more protests are likely in the future.
Much needed rain of up to .6" fell in the dry parts of eastern Australia's wheat belt the last 24 hours and more of the same is forecast today. Still more rain will be needed again soon to end drought conditions in this area, northern New South Wales state. There is a freeze threat in northern parts of the Canadian prairies early next week but any damage should be limited.
The US Midwest will be mostly mild and dry the next several days, through early next week. The 6-10 day calls for warm temps but there is a chance for much colder weather the weekend of Sep 11-13, which the market will watch closely. ---Vic Lespinasse



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