Grain News Update
Grain markets are softer this morning. In the weekly crop progress report released Monday afternoon, the USDA said that U.S. corn conditions were right in line with expectations at 57% good/excellent. U.S. Soybeans are said to be 53% good/excellent. Soybean planting was listed at 96% complete vs 92% last week. Winter wheat conditions are at 64% good/excellent. Winter wheat harvest is behind last year’s pace at 47% complete vs 61% last year.
The United States and China are set to pick up trade talks this week after two months with little progress. It’s been a year since the trade war began, and we’ve seen little to show that the two leaders will come to an agreement. U.S. officials say that talks will resume with a phone call between U.S. Trade Representative Lighthizer, Chinese Vice Premier Liu He and Treasury Secretary Steven Mnuchin.
The weather has finally given us a little break from the rain. The 6-10 day outlook shows warmer temperatures for the Midwest, with near normal precipitation for Southern Wisconsin and much of the corn belt.
Be safe and enjoy the sunshine!