The markets are looking ahead to todays reports from USDA, China wants to discuss technology at an upcoming Phase One confab and Presidential candidate Biden chooses his running mate.
A derecho storm brought high winds to key Midwestern growing areas, flooding in China has taken a bite out of cropland acreage and Republicans and Democrats continue to squabble over the next round of coronavirus aid.
Chinese customs data shows a year-on-year increase in July soybean imports, President Trump threatens to take executive action on the latest COVID stimulus bill and the Administration instates aluminum tariffs on Canada.
Markets will be watching todays jobs report, China once again sold out of state-owned corn reserves offered at auction and Secretary of State Mike Pompeo warns against the use of Chinese technologies.
Brazilian soybean and corn exports are expected to climb over year-ago in August, a blast at a port in Lebanon decimated the countrys wheat supply and lawmakers expect to reach a deal on the coronavirus aid package this week.
Corn and soybean crop ratings remain solid, Hurricane Isaias weakened as it made landfall and cattle futures got of to a string start to the week yesterday.
China continues to sell state-owned corn reserves, coronavirus aid packages are mired in debate and the Trump Administration decides to withdraw troops from Germany.
The Federal Reserve will issue a policy statement this afternoon, stimulus talks are breaking down and Argentina reports COVID-19 infections at export hubs.
Crop condition ratings improve, the Senate releases its latest COVID-19 aid package and USDA warns against planting mysterious seeds received from China.
China orders the closure of a U.S. consulate, a tropical storm will hit the coast of Texas this weekend and ongoing dry weather in Argentina remains a concern.
