Monday September 23, 2024

• Soybeans, wheat and corn are all in the GREEN to start off the week. With the 2024 soybean cash bid finally getting up over the $13 mark this morning… Hopefully it will stick.
  • Grains are seeing a short cover on technical support
• Wheat seems to be rallying off of continued global production concerns.
• There was a flash sale Friday morning of 121,000mt of soybeans to China.
  • US export commitments for the current marketing year are the second worst in the last 10 years. 
• A potential hurricane is to develop this week in the western Caribbean. Heavy rains are expected in the southeastern US as well as parts of the southern and eastern corn belt.
  • The western corn belt & US plains will likely remain dry.
• Brazilian soybean planting is still lagging behind the seasonal pace with only 0.5% planted compared tp 1.6% last year