June 26, 2017
Grain Marketing Specialist
USDA QTR STOCKS AND PLANTED ACRES REPORT OUT FRIDAY AT 11 AM!
Talk to your Grain Marketing Specialist to place your target orders.
Corn: 2 higher
We have seen plenty of excitement, and despondency within the corn market these last few weeks, and all roads lead to Friday’s USDA Report. Early expectations, for that report, suggest less planted acres and smaller yield. Wet in the East, dry in the West. Timely rains continue to promote the “Rain makes Grain” campaign slogan. Last week July and December corn futures touched their December ’16 lows at $3.57 and $3.75 respectfully. They are managing to hold those levels for now. Weather forecasts will continue to play the biggest roll as we progress through the dog days of summer, but first we must get through Friday.
Soybeans: 5 higher
Early expectations for Friday’s USDA Report suggest higher planted acres and carryout being the largest in years. July soybeans touched $9 futures for the first time since March of 2016. November soybeans dropped down to $9.07 which is 4 cents from the low set back in August 2016! Weather forecasts continue to play the biggest role. There isn’t much to say, as we wade through this week to Friday’s finish line.
Wheat: MPLS 7 higher. KC 7 lower.
Minneapolis SW opened, last night, higher as crop deterioration continues to plague the SW market.There continues to be some set back in the Kansas City WW complex as the crop is fair.