The weekly charts still show overall downtrends, but daily charts are showing the potential for a short-term rally from current levels.
US wheat prices will probably move to the higher end of the world price range.
All positives for the corn market and not so much for soybeans.
China is importing significantly less sugar so far this year.
Trees have seen plenty of rain and production should be seasonally increasing.
A so-called plant factory—an indoor vertical farming project which grows various crops—is being developed and run in Beijing.
Given the extent of flooding and drown out across the key growing states; abandonment may be the first adjustment to be made by the USDA.
California and Idaho have a different pricing mechanism which makes hedging a bit more challenging.
Arkansas remains a big problem area as little work is able to get done because the soils are still too wet.
The USDA slashed US corn exports and yet found a way to increase soybean exports.