Grain Marketing Specialist
USDA Grain Stocks Report is out June 30th at 11 A.M. CST. This report has the potential to be a very volatile report. Talk with your local Grain Marketing Specialist for advice on what levels to place your targets in preparation for this report.
Corn Down 2 as of 7:45
A favorable seven day forecast for the Corn Belt put the pressure on the corn market yesterday as the July futures contract dropped 8 ¾ cents for the day. Export inspections out yesterday morning totaled 48 million bushels for the previous week ahead of the 29 million bushels needed. Crop conditions out yesterday afternoon put US corn at 67% good to excellent no change from the previous week and still 8% behind last year at this time.
Beans Down 5 as of 7:45
Favorable weather held beans back from any gains yesterday as well as July beans closed the day down 1 ¼ cents after being up 11 cents at one time during trade. Export inspections came in at 10.1 million bushels slightly higher than needed. The 2nd week of Crop Conditions yesterday afternoon put US beans up 1% from last week at 67% good to excellent which is still trailing last year by 6%. South Dakota posted a 5% increase while ND posted a 2% increase from last week.
Wheat Minneapolis Up 5 and Kansas city Down 5 as of 7:45
Minneapolis SW closed the day down 3 ¼ cents yesterday 10 cents off the high of the day. July KC WW closed trade down a penny. WW harvest has moved well into KS this week with the South Central part of Kansas reporting at 80% complete and the Central area of Kansas reporting at 40% harvested. KS WW yields have been reported at 45 to 80 bpa with some reaching over 100bpa. Protein has been running around 9.4% in the central part of the state. SW conditions reported yesterday put US SW conditions down another 4% at 41% good to excellent vs 76% last year. SD posted unchanged conditions while ND posted down 1% this week.