Highlights
At 11 AM Central Time today, the USDA will issue its Quarterly Grain Stocks Report. It will show the inventory of all commodities as of September first and there could be some production and consumption adjustments made for any of the past three marketing years. In other words, there could be some big surprises. We expect some serious long futures profit-taking and cash selling of corn and beans before the report comes out.
The ten-day weather forecast showed rain in Rondonópolis, Mato Grosso, Brazil for the first time since April.
A port strike on the U.S. East Coast and Gulf of Mexico will start on Tuesday, the International Longshoremen’s Association union said on Sunday, just after midnight Monday. There were no negotiations yesterday and none planned before the midnight Monday deadline.
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