Grains trading quietly unchanged this morning as fresh news remains light for the trade. The market is waiting for U.S. exports to ramp up and pick up demand, but so far that has been discouraging. The corn belt rains are getting a little excessive in the north as harvest approaches. So far we have seen few positive harvest results to support the USDA’s optimistic outlook. Globally, analysts are eyeing a record Brazil corn crop of 102.3 MMT; the first over 100MMT, and on 3.4% higher corn acres. Aside from U.S. harvest and weather, South American weather will now be watched as well. Politically, we are watching for news from Trump regarding China trade, and the biofuels situation with ethanol.
Have a good day!