Higher overnight but really unable to come up with a good solid reason for it. Overall the market remains mostly rangebound in about a roughly 15 cent trading range on both CH and CZ with CH near the bottom end and CZ closer to the middle. Fresh news may be needed to get out of the range. China ag minister says they will probably end the practice of selling of old corn reserves this year, at least for a while. Global demand: S Korea bought 260tmt optional origin, Indonesia tenders for 30tmt from S America, and Iran tendered for 300tmt with no offers. China’s Dalian corn was 6 ½ higher in overnight trade.

Trading 2 to 4 better



Better overnight, and here too, not much solid fresh news for direction. Yesterday’s NOPA crush was supportive, but we had plenty of time to trade that yesterday, so unlikely that is impacting overnight. Brazil temperatures remain seasonably warm, in the 80s and 90s with scattered rains remaining in the forecast across a few regions. Malaysia palm oil was down 9 ringgit, China dalian beans were down 20 in overnight trading and it appears there has been no progress between US/China is trade talks. US export window is closing fast.

Trading about a nickel better



Seeing a very light bounce as the US wheat situation remains oversupplied and poor demand. We still see optimism that Russia will slow exports and US will benefit as we need it to happen otherwise the US wheat balance sheet remains close to 1.0bb carryout. US exports seem kind of soft, and mill demand mostly routine as grain continues to move. Global demand seems more about feed wheat than milling wheat.

Trading 2-4 lower