Tuesday’s surprise (but not entirely unexpected) decline in U.S. corn and soybean conditions ratings, in tandem with more Russian attacks on Ukrainian ports, sent the CBOT sharply higher overnight. KCBT wheat was the only market, however, to maintain most of its strength with CBOT wheat, corn, and soybeans all paring gains heading into the close. For the summer crops, traders are betting the timing of the recent U.S. heat and dryness will mitigate yield losses and that the coming two weeks of favorable weather could help offset some of the effects. Pre-WASDE positioning is also ongoing with few willing to significantly expand risk before the September report, coming out next Tuesday. Funds were net buyers across the board, however, an...

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