Tuesday August 25, 2020

• Falling crop ratings boosting the grain markets this morning 
• Corn rallying to its highest level since July as conditions continue to fall due to the hot dry week in the corn belt
• Official European Union pegged soft wheat exports since July 1 at 1.99 MMT – up 47% from last summers pace 
• National crop ratings
  • Corn fell 5% this week to 64% good/excellent – for the first time this summer slipping below average of 66% g/e 
  • Soybean ratings fell 3% to 69% g/e – still ahead of average of 64% g/e
• China has also reportedly made a significant corn soybean purchase in the last 24 hours – adding to the optimistic feel of today’s trade