Good morning! Corn, soybeans and wheat are higher this morning as wet weather continues to wreak havoc in the major growing areas. Funds continue to support prices ahead of weekly export inspections and crop progress and conditions.
The wet weekend raises concerns some intended soybean acres won’t get planted. The wettest areas were eastern IA, IL, southern IN, OH, eastern OK and eastern TX. The 6-10 day forecast for central and southern Midwest stays wet.
U.S./China trade talks on the back burning. Wilbur Ross said over the weekend “ “I think the most that will come out of the G20 might be an agreement to actively resume talks,” MFP 2 details coming in about two weeks.
Have a great and safe day!
Corn: 3 ¾ carry.
Soybeans: 13 ¾ carry.