August has so far not been very kind to commodity markets, though it’s not as much the month’s fault as it is the fault of improved weather forecasts. CBOT futures were sharply lower on Wednesday and the mid-week weakness came despite another Russian attack on Ukrainian grain infrastructure. Overnight, Russia attacked Ukraine’s inland port of Izmail on the Danube River, which damaged a grain silo just across the river from NATO member Romania. That initially sent CBOT markets higher but traders and algos quickly returned to selling on the outlook for improved rains and cooler temperatures for the U.S. Midwest in the next two weeks. The prospect for improved corn and soybean yields kept the major ag markets on the defensive...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, Livestock, Black Sea, North America, Russia