Good morning,

The corn and wheat are weaker this morning with soybeans up slightly. Corn is currently down 20, wheat is down 50 and soybeans are up 1.

Corn and Wheat down due to lack of new attack on Ukraine ports. EU trying to produce a plan to ship Ukraine grain to EU. Putin announced they did not renew the Ukraine deal because it was not serving its purpose.


The European Union yesterday said they’d be willing to export “almost all” of Ukraine’s grains via “solidarity lanes”, as well as help cover costs; that would consist of road and rail connections through Romania, Poland, and Hungary. 60% of Ukrainian grain exports went through those routes during the Black Sea deal, with the other 40% via water. The E.U. Ag Commissioner said they could handle the entire four million tonnes per month shipped during the agreement.


The weather models are in some disagreement on the placement of rain as the heat moves in this week.  The EU has good chances for Iowa while NOAA does not.  Temperatures are supposed to remain elevated into the middle of August.


Today is a risk off day and a great reminder that rallies like we saw on Monday should be rewarded with sales as they will not be sustained.


Have a Safe Day!


Garry Gard