The Chinese trade delegation canceled their US farm tour stops on Friday causing the markets to end last week on a down note. Reasons for the cancelation were not clear, but it is rumored that the farms were actually the ones cancelling the visits. The Chinese were scheduled to visit hog farms in Montana and Nebraska. The farmers are restricting visits due to the swine flu that has devastated the industry.
Markets are stronger this morning after some heavy rains soaked fields from Missouri, Iowa, Illinois and Wisconsin over the weekend.
Next Monday 9/30/19 the USDA will release the September 1st quarterly grain stocks report. Expectations are for this number to be well north of 2.0 billion as exports and domestic demand have been slow.
Have a Safe Day!