- Wheat is up 5 cents in early trade, corn is up 3 and bean are higher by 1 3/4 cents
- WTI Crude is nearly unchanged. The US Dollar Index is off 544
- Stcocks and acreage reports due today from the USDA at 11 am. I would expect quiet trrade till then
- Numbers to watch are how USDA numbers compare with trader's estimates of; corn stocks at 5.268 billion bushels, soybeans 1.225, and wheat 1.091.
- Corn acreage is estimated at 88.562 million, soybeans 89.691, and all wheat at 47.124
- Quarterly Hogs and Pigs yesterady showed all Hogs at 103.4% vs. last year, inline with the 103.0 trade estimate.
- The US Senate passed its version of the 2018 farm bill yesterday
- Good progess yesterday as drying conditions allowed harvest to resume locally
Chart of the Day
Crude is trading at values last seen in Nov 2014