9/9/26 Geopolitical Support Builds as Traders Await USDA

09/09/2026 Click Above to Watch the Morning Market Talk Video Geopolitical Support Builds as Traders Await USDA On the Grains Grain and soy futures traded on both sides of unchanged overnight but are firmer this morning, led by the wheat markets. Wheat traders continue to monitor the situation in the Black Sea. After Russia rejected a proposal to not strike civilian cargoes in the Black Sea, its forces struck a Ukrainian cargo vessel while it was sailing toward Odesa, claiming the ship was carrying military equipment. Also, there was a Russian strike on the Moldova/Ukraine border overnight, suggesting Russia’s attacks are pushing further west. Ukraine increased its attacks on the Novorossiysk port area. Corn and soybean markets are positioning ahead of USDA’s Crop Production and WASDE Reports on Friday. USDA’s corn and soybean estimates will feature the first objective field survey data, along with farmer surveys, satellite imagery and additional FSA acreage data since August. The corn and soybean markets are currently trading figures around the following average pre-report estimates from Reuters for yield and crop production, so anything higher than those from USDA would be price-negative, anything lower would be price-supportive. Changes to the new-crop balance sheets will be primarily driven…