A softer start of the week, wheat, corn, soybeans down in Chicago, wheat down in Kansas and Minneapolis, MATIF down across the board (wheat, corn, rapeseed), Canola, Palm Oil, down as well. Actually, Energy are down as well, metals are down,… Only sugar is up, a small up though. Financial markets collapsed in China,… A very depressed Monday then!
Weather is improving in the US and Canada. Brazilian corn will head to Europe and even in the US, reminding US is not competitive these days. In Europe, it is cooler, giving a relief to corn silking. Later today the crop progress, will conditions of corn and soybeans increase? Wheat harvest in the US and France will be close to completion pretty soon.
Jordan is tendering to buy 100,000T of optional origin wheat, Pakistan importers bought 126,000T of soybeans from Argentina and Uruguay, South Korea is tendering to buy 70,000T of Corn.
EURUSD is up, back to being close to 1.11. Greece is going to talk in details about the bail out while FED more and more concerns are raising about the FED. What if the hike doesn’t’ happen in September? Still very likely though.