Highlights
We received this from Andrew late Monday evening:
"Western Iowa is fading fast. There was still some very good potential for good yields in our area, but this week will kill that. There are still some decent looking crops out and about but not above average in my opinion. Beans are starting to look like they’re turning, but the plants are just dying. We have had subpar moisture going on year 4. Subsoil was non existent at the start of the season. Corn looks to be handling it better, but there is a lot starting to burn up. Test weight and kernel depth will be interesting for sure."
Thanks, Andrew
On Sunday “everyone” needed to establish a new Ukraine export grain was headed to Budapest, Hungary to work out the details for the “new grain deal” between Turkey, Russia and Qatar. Yesterday, the "new grain deal" appears to have been postponed or canceled. Turkey’s President Erdogan left Budapest without signing anything.
Once again, the CBOT markets open strong, go higher in the first hour and then get crushed despite no new news.