Source: USDA, FARM FUTURES, 8/13/14

Grain futures are modestly higher this morning, after avoiding a complete wipeout Tuesday from USDA's August crop report. Smaller than expected corn and soybean production helped those markets move off contract lows, with concerns about hot, dry weather in China and the former Soviet Union sparking some interest today. Wheat is enjoying the best gains overnight on hopes damaging rains in Europe could pave the way for increased exports into North Africa and the Middle East.

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