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Welcome moisture for HRW wheat areas. Soybean crush expected to hit four-year low for August. Russian wheat tariff will hit a new high next week. Euro-zone inflation hits highest level in 13 years as energy prices soar.
On the other hand, USDA’s quarterly wheat stocks estimate was 72 million bu. lighter than analysts anticipated. Find more highlights from USDA’s latest Quarterly Grain Stocks Report and Small Grains Summary.
Warm, dry weather dominated the western half of the U.S. the week ending Sept. 28, while some welcome rain fell in some areas of the Midwest, the Mid-Atlantic and into the Northeast.
Cotton export sales soared 65% from last week’s strong tally to 571,400 RB, with China accounting for the bulk of the purchases.
Light buying as market readies for USDA reports that have historically sparked volatility. China’s official PMI dips into contraction territory. Lawmakers to vote on measure averting a government shutdown today.
CHS’s Myrtle Grove terminal reopens. Cyclone damages Indian crops. Senate preparing ‘clean’ stopgap spending measure to fund government agencies until Dec. 3. Argentina lifts cap on beef exports.
We believe any surprises for wheat will likely come in the Small Grains Summary. Find expectations for USDA’s key reports at month’s end.
Cordonnier cuts U.S. corn yield estimate. CNGOIC official expects strong Chinese grain imports in 2021-22. World Weather says western HRW wheat areas should see some dryness relief this week.
Wheat inspections came in well short of expectations at just over half of last week’s tally, catching the market off guard.

Meghan Vick

Meghan joined Pro Farmer in June 2011 and is currently the News Editor. Prior to joining the Pro Farmer team, Meghan worked as an editor at Stocks, Futures and Options (SFO) magazine. During her time there she gained her Series 3 license from the National Futures Association. She is a 2009 Summa Cum Laude graduate of Wartburg College in Waverly, Iowa, with Bachelor of Arts degrees in English and writing. LimelightPlayerUtil.initEmbed(‘limelight_player_28855'); At Pro Farmer, Meghan writes many of the daily market commentaries in addition to website news stories and updates on Washington happenings. She also compiles the quarterly Washington Outlook Report.