Brian Grete

Overnight trade was light and two-sided, though buyer interest is building with grain and soy markets trading near session highs this morning.
The national average corn basis turned negative for the first time since mid-April.
Wheat futures firmed overnight, while soybeans faced mild selling pressure and corn was caught in the middle.
Corrective buying was seen in the grain and soy complex overnight as the U.S. dollar pulled back and crude oil firmed.
CCI ratings have dropped 11 consecutive weeks for corn and eight straight for soybeans.
Outside markets and global economic concerns weighed on grain and soy markets overnight.
Both placements and marketings were near the top end of pre-report estimates.
Outside markets weighed heavily on the grain and soy complex overnight as the U.S. dollar strengthened to a fresh 20-year high and front-month crude oil dropped to near $80.00.
The smaller-than-normal rise in frozen meat stocks came despite hefty monthly increases in beef and pork production, implying demand was strong and outpaced supplies.
Drought conditions expanded and intensified in HRW areas of the Plains over the past week.