09/26/2024 Harvest Swings In, Boxes Get Crushed

On the Grains
Good morning, Thursday’s export sales report will be the driver for the bulk of today. Overnight crude oil was down sharply, down over a dollar when writing this. Wheat appears to offer some help this morning, with Paris trading higher and domestics following. Paris Milling wheat has about $8 to go and check the recent highs. Yesterday’s flash sale to Mexico for 180,000 MT of corn was a boost but I was looking for some beans as well to confirm the rumors earlier in the week of 20 cargo trading, maybe we will see that today. Soybean futures continue to march higher today, eyeing the high from earlier in the week, just remember we’re nearing the weekend and will probably see some pre-hedging take place tomorrow.