Grain and soy markets traded rather quietly overnight with prices holding mostly steady to mildly firmer. However, prices for soybeans and wheat began to tick higher soon after trading resumed for the day session. Support was offered by agreement among all three major weather models that the southern and western Plains would stay bone dry or nearly so for the next 10 days, putting further stress on emerging HRW that badly needs a major dose of precipitation. These three models also agree that Argentina’s major crop areas are likely to receive little or no rain during the next 10 days, further damaging soybean and corn production prospects. Today’s higher price action was not spectacular or emotional, but it was steady. KC wheat...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Equities, North America, South America