The USDA will issue its monthly Crop Production and Supply & Demand (S&D) Reports today at 10 AM Mountain Time. Given the strong close Friday, corn, wheat and beans will probably remain under pressure until about two hours before the report and then recover about 50% of the day’s loss before the report is released.
The two top rail unions have failed to reach an agreement ahead of a potential strike on September 17, causing CSX, BNSF, Kansas City Southern, Norfolk Southern Corporation, and Union Pacific Railroad to reduce service beginning today ahead of any labor action. About 115,000 railroad workers could be on strike at midnight this Friday. Lawmakers are already trying to figure out how to prevent a strike.