7/18/2019 6:45:51 AM
- U.S./Chinese talks have stalled, reportedly due to China wanting to see restrictions lifted off Huawei first, but trade officials will converse by phone later today.
- The Baltic Dry Index of ocean freight made new highs today of 2011, the highest level since January of 2014.
- Continued hot and dry conditions are forecast for France next week, putting more drought stress on crops there.
- Outside markets as of 7:00am CT: Dollar down 12 at 97.172, Crude Oil up $.30 at $57.08, Dow down 42 at 27189 and Gold down $1.50 at $1421.80.
- Wheat export sales were 347.3tmt vs estimates of 200-400tmt.
- Egypt bought 60tmt of Russian wheat in their snap tender yesterday.
- Japan bought a total of 51.8tmt Canadian Spring and Australian White wheat.
Outlook: Wheat gapped lower overnight and all 3 classes are testing their early July lows.