Grains Rally for a Third Straight Day as Weather Concerns & Short Covering Return

📈 Grains Continue Their Recovery Rally

• Grain markets posted gains for the third consecutive session

• Overnight trade was where most of the excitement happened:

  • Wheat was up 14–15¢

  • Corn gained 5–6¢

  • Soybeans were up as much as 15¢

• During the day session:

  • Producer selling emerged

  • Elevators sold grain against farmer sales

  • Gains were trimmed significantly

• 📌 Main takeaway:

  • Buyers showed up overnight

  • Sellers showed up during the day

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🌾 Wheat Supported by Disease Concerns

• Wheat led the overnight rally

• Key concern:

  • Developing scab risk in soft red winter wheat areas

• Weather pattern:

  • Heavy rains across:

    • Missouri

    • Southern Illinois

    • Indiana

    • Ohio

  • Followed by temperatures:

    • 7–15° below normal next week

• 📌 Scab thrives under these conditions

• Market attitude:

  • Traders are aware of the risk

  • But want to see actual crop damage before aggressively bidding prices higher