Grains are mixed in the overnight session. Wheat is up a penny, beans are down 6 cents, and corn is down only ¾ of a cent.
U.S. Dollar Index is weaker in the overnight session, down 100 points.
Even with a drop in global grain prices, wheat powerhouse Russia is thriving when it comes to agriculture, exporting more than 40 million tons of wheat in the year ending June, which is about 50% more than the previous year.
Bean futures fell almost 1 percent on Monday with reports China cancelled tariff talks with the United States. Beans are under pressure with the looming trade war and an expected massive U.S. crop.
U.S. producers will soon begin receiving government payment as part of a $12 billion-dollar bailout to ease growers that are experiencing financial burden from the U.S.-China trade disputes.
Soy planting in Brazil's No.2 producer Paraná advances to 11.2 percent of area versus 1.7 percent at this time last year and 1.9 percent of five-year average, says AgRural consultancy. Soy planting in Brazil seen at 1.9 percent of expected area versus 0.3 percent at this time last year and 0.3 percent of five-year average.
Chart of the Day
Weekend rains were heavy in the southern Plains up through the OH River Valley; action will be heaviest in the northern belt over the next 24 hours, increasing in the ECB through mid-week. Rain chances look more scattered past that, up through the weekend, but 6-10 day maps are trending much wetter today for the Midwest (continuing into the 11-15 day time frame). Cool conditions will remain as well, safely below-normal through early October.