Corn and soybeans posted solid overnight trade volume but it’s wheat that’s holding up the complex this morning, with commodities overall still facing massive headwinds from that surging USD. Grain exports are still flowing out of the Black Sea region but the trade remains on edge as the war continues; Chi wheat found some technical support overnight as well.

Tomorrow afternoon’s USDA Quarterly Hogs & Pigs Report is expected to show all U.S. hogs as of September 1 at 74.268 million head, or 99.2% of last year; August hogs kept for breeding are seen at 99.6% of last year with August marketings estimated at 99.1% of last year.

The Plains and corn belt remain dry this week and for the foreseeable future, with rains this week holding out in the western U.S. with Hurricane Ian’s path to the southeast. Temperatures remain above-normal up into mid-October.

Rains fell in northern Brazil over the past 4 hours and chances remain in northern crop areas over the next ten days; Argentina will stay dry for the near -term with moisture shortages and stress remaining for crop areas there.

Have a great day!

MORNING TRIVIA: The last Major League Baseball player to hit over .400 finished his season at .406 on this day-what player and in what decade?

Answer on the Cash Bid page.

Wayne Kollis - Matt Zeman - Austin Behrendsen - Deric Den Hartog