Grains are lower at midday:

Corn – 3 ½ cents/bu (Dec @ 3.66)

Soybeans – 6 ¾ cents/bu (Nov @ 9.92 ¾ )

Chi Wheat – 8 ¾ cents/bu (Dec @ 5.37)

Cdn $ -0.00065 (75.84 cents)

WTI Crude Oil +1.10/barrel (38.36)

Grains taking a breather on Tuesday from their recent run up of almost daily higher closes.  Overnight, soybean futures had traded to above $10 per bushel in very month through July 2021, but values are safely below that psychological price level for the time being.  Market news this morning has a little for everyone.

The USDA did end up announcing more export business this morning, as the following sales were confirmed:

• 132,000 tonnes of soybeans to China
• 132,000 tonnes of soybeans to Unknown
• 120,000 tonnes of corn to Unknown

As well this morning, the National Oilseed Processing Association (NOPA) announced their August crush statistics.  Those showed 165.055 million bushels of soybeans were crushed last month, well below the average trade guess of 169.468 million bushels.  August crush represented a 9 month low in monthly crush volumes, and the first time in 9 months that a new record was not set.

Outside markets are generally higher, with USA equities up.  Dow futures are up 121 points @ 28,121, while NasDaq futures are up 202.5 @ 11,483.  Economic numbers out of China and Germany are friendly, with retail sales and industrial activity reported to be stronger, with forecasts trending better as well.  Energies are higher as weather threatens supplies from the USA Gulf in the short term.  

Weather continues to point to an ideal, early harvest for the USA Midwest.  That is increasing ideas of grains flooding commercial channels in the weeks to come, as farmers Stateside take advantage of the recent rally in values.