June 29th, 2015
Drew Johnson
Grain Marketing Specialist

Reminder: All July HTA’s and BF contracts must be priced, or rolled today by 12pm!
USDA Grain Stocks and Planted Acres Report out tomorrow, Tuesday June, 30th at 11am.

Corn:

Traders will be watching crop ratings today, to see if the recent wet weather has continued to deteriorate the corn crop. All eyes will be on the USDA Grain Stocks and Planted Acres report tomorrow. The average pre-report guesses, for total acres planted, are around 89.17 million, down only .03 from the March numbers. Stocks estimates are around 4.56 billion bushels. Expectations, for today’s crop progress report, are around 70% good to excellent. Technically we see resistance at 3.91 in the July Futures, and 4.08 in the Dec futures.

 

Soybeans:

Soybeans are trying to push higher this morning. Report expectations guess that total planted acres, for soybeans, will be up around 85.2 million acres. This number is higher than the 84.6 established in March. Expectations, for today’s crop progress report, are at 90% planted and 64% good to excellent. Technically speaking, resistance for July beans is at 10.18 on the board, with Nov resistance at 10.00.


Wheat: 1-2 higher

Wheat is continuing to push higher, breaking last week’s highs. Harvest continues to move along, as farmers in the western and central plains saw favorable weather last week. The east looks it will continue to be plagued by moisture. Stocks report guesses could show about a 10 million bushels carryout for 2014, with planted acres up some.