Brian Grete

Expansion of drought will add to low water levels and shipping disruptions along the Lower Mississippi and Oho river valleys.
Corn, soybean and winter wheat futures traded lower overnight as outside markets provided price pressure.
Basis continues to fall for both corn and soybeans amid seasonal pressure during harvest and shipping problems to the Gulf given low water levels.
Corn and soybean futures pulled back from gains earlier this week, while wheat futures extended this week’s declines.
Soybeans and wheat are pulling support from outside markets, while corn is mildly favoring the downside.
Wheat and soybean futures are mildly firmer with corn under light pressure. Livestock futures are higher on a round of corrective buying.
Corn and wheat futures traded solidly higher overnight, while soybeans favored the upside in two-sided trade.
Wheat futures were supported overnight by Black Sea supply concerns as Russia was set to annex four regions of Ukraine. Corn and soybeans followed wheat higher.
Sharp fluctuations in some of the world’s major currencies are injecting new uncertainty into the global economic outlook.
Despite rains on parts of the Plains, the drought footprint expanded across HRW wheat regions and now covers 64% of U.S. winter wheat area.