Wednesday July 8, 2020

• Markets stepping back again this morning as prices consolidate ahead of Friday’s USDA report
• Rains on the forecast for the weekend but no break from the heat as it looks like the uncomfortably hot trend will continue through July
• The next couple weeks are critical for U.S. corn crop as the enter pollination phase which is when crop stress can have the greatest impact on yield
• Wheat prices attempting to rebound as production estimates in some of the major global players shrink
  – Reductions expected in the U.S., Argentina, France and the Black Sea Region