Grains look to follow through on a weak finish from last week. Traders will have the week to prepare positions for Friday’s crop report. In the Headlines The Group of Seven nations announced a coordinated release of oil and fuel reserves on Friday. The plan covered an injection of 100 million barrels of oil and product that would include immediate release of diesel fuel and then more over the next four months. President Trump referenced the plan by highlighting that Europe had agreed to unload its stocks. Trump also commented on South Korea investing $8.4 billion in “an enhanced Oil Recovery Project.” A third U.S. aircraft carrier and about 9,000 more troops were deployed to the Middle East last week. Government officials confirmed orders for the USS Theodore Roosevelt carrier strike group and the 13th Marine Expeditionary Unit. Wheat was pricing in additional war premium again late last week on the news that Estonia was banning the transit of grain exports from Russia and Belarus. The country was not currently being used actively as a through-port, but the move was precautionary as Russia searched for alternative routes as well as symbolic in support of Ukraine. Recent grain shipments through Latvia…
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