Corn trends higher at midday on tariff delays and a lower dollar which could help to keep export business positive.
CFTC data from Friday showed funds hold their largest net long position in 2 years at just under 300,000 contracts.
AgRural has said that safrina corn planting in the central-southern region of Argentina is just 0.3% complete. This compares to 4.91% last year.
Soybeans continue to firm at midday on Trump’s decision to delay tariffs and light rainfall in Argentina over the weekend.
President Trump has mentioned he will limit used cooking oil imports from China which has given the soy complex a positive boost.
AgRural says harvest in the Mato Grosso area is at its slowest pace since the 2010 timeframe, but drier conditions could help to speed things up.
The wheat market is higher at midday on extreme cold temperatures across the Plains states and a lower US dollar.
IKAR says Russian wheat prices have fallen $3/MT to $234/MT. President Putin has also mentioned he is ready to talk with President Trump about the ongoing war with Ukraine.
Interfax reported that Ukraine’s grain and oilseed exports have risen since July to 24.19 mmt which is 2 mmt higher than a year ago.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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