Grains quiet this morning as traders anxiously await the USDA reports that will be released on Friday. Last Friday our bean futures rallied on the open, but slowly fell off throughout the trading session as the news of “a positive meeting” between the U.S. and China wore off. South American weather is still in the picture as Brazil in particular sees hot temperature in key growing states. Much of the market news we will see this week will be centered around the USDA reports. Many firms will start releasing estimates soon.
We did get a USDA report of an export sale to China this morning- 612kmt of beans.
Have a good day!