Morning Quick Notes

Overnight
Grains are weaker overnight with corn down 1 ½ cents, wheat down 3 ½ cents and beans down 3 ¼ cents.

Morning Headlines
President Trump hinted that he may make acting EPA head Andrew Wheeler a permanent administrator. Senator Grassley is encouraging a quicker timeline on finalizing year-round E15 fuel, with the current plan targeting May 1 of next year.

President Trump and Chinese leader Xi Jinping have scheduled a meeting during the upcoming G20 summit, although there will be no detailed trade discussions

Russian wheat harvest is 99% complete at 73 MMT, according to their Ag Ministry. They raised their total 2018 grain output from 106 MMT to 109 MMT, and 2018/19 exports from 35 MMT to 38-39 MMT. However, Russian grain exports appear to have peaked in August, compared to a Nov/Dec peak last year.

Rain expected in the forecast that could cause more harvest delays.

Chart of the Day
Rain chances remain south and west of the Plains this morning with U.S. growing areas still dry, but that action will start to shift north and northwest-ward into the Plains and WCB over the next 24 hours, and the rest of the belt through the weekend. Accumulation still looks generally light, though, with the ECB possible seeing the heaviest of it now Friday-Sunday.