Markets are stronger this morning with corn up 25, soybeans up 21 and wheat up 57 on news out of Russia.
Russia destroyed Ukrainian grain warehouses on the Danube River in a drone attack on Monday, targeting a vital export route for Kyiv in an expanding air campaign that Moscow began last week after pulling out of the Black Sea grain deal.
Last week’s attacks mostly struck the sea ports of Odesa but Monday’s pre-dawn strikes hit infrastructure along the Danube, an export route whose importance has grown since the demise of the deal allowing Ukrainian grain transit via the Black Sea.
Hot dry weather will dominate the Central US this week during the key pollination period. Some rains fell this weekend in Northern Illinois and off into Northern Indiana and Ohio. Rains have been spotty as will be the forecast for this week. Hot weather holds into the 28th, before the ridge retrogrades southwest.
Crop ratings are expected to increase a point or two for both corn and soybeans while holding steady in spring wheat.
Have a Safe Day!