Russia continues to export cheap Grain, Ukraine is finding workaround solutions via the Danube River, and E.U. Grain is cheap, which lessens North American Wheat export prospects
Corn remains range bound to start the week with soybeans working on a slight technical rebound ahead of expected yield/output/stocks cuts tomorrow
Chic Dec wheat put in a fresh contract low, looking to get down to the level of the expiring Sept with cheap Russian wheat setting the global bar
SovEcon estimated September Russian grain exports at 5.7 MMT, down from 6.1 MMT in August, with wheat at 4.9 MMT vs 5.3 MMT last month.
September CBOT Deliveries: Chicago wheat 28 contracts, with next trade date 9/12/23; soybean meal 50 contracts and 9/12/23; soybean oil 35 contracts and 9/12/23
Mpls wheat -6
KC wheat -8
Chic wheat -4
Matif wheat -2
Canola -6
Rapeseed -1
Soybeans +7
Soybean oil -36
Crude +25
Corn +2
CAD +37
