The February WASDE crop report is out at 11:00 a.m. CT today.

Grain markets rose overnight as wheat led gains on Black Sea weather concerns. Short covering in corn and soybeans builds ahead of the WASDE report release.

The grain trade was mostly higher overnight, led by wheat. Concerns are growing that the Black Sea region will soon see a severe cold snap with little to no snow cover protection. Short covering was also seen in corn and soybeans ahead of today’s WASDE crop report at 11:00. Given the friendly December and January reports, traders are keenly aware that t…