The recovery in the corn, soybean, and wheat markets today appears to be driven by several factors, including improved export activity and some technical buying. Market sentiment may also be influenced by shifts in global weather patterns, particularly in South America, and by updates on U.S. harvest progress.

Key Points:

NOPA Crush Numbers: The latest crush report showed strong soybean processing, indicating healthy domestic demand for soy products. This could bolster market confidence in soybean fundamentals.

Corn and Soybean Export Demand: Export sales for corn and soybeans have been robust, with particular interest from key markets like Mexico and China. These positive signals may encourage traders to adjust their outlooks. As always, reassess your marketing plans based on export trends and price opportunities.

Corn Demand for Ethanol: Ethanol demand remains steady, with production maintaining levels that support corn prices. However, fluctuating crude oil prices can influence ethanol profitability, which might impact future demand for corn.

Mississippi River Levels: Water levels have seen slight improvements in some areas due to recent rains but remain a concern for grain transportation. This continues to add logistical challenges, which may pressure basis levels.