Morning Market Insight
Grain Marketing Specialist
Monday June 30th is the stocks report. Do you have your targets in??
Corn as of 7:45- Down 2
Yesterday corn rallied a little bit in preparation for June 30th Stocks and Acreage report. Trade is also unclear regarding Monday afternoons condition report with 23% of the crop receiving additional heavy rains and flooding. Good rains in china and bumper crop expected there. EPA official indicating that the 2014 RFS volume requirements will be a factor soon.
Beans as of 7:45- Unchanged
Yesterday’s rally was focused on strong export sales.US only needs to export 7 mmt more to reach last year’s 22 mmt in a 9 week period. Traders watching Mondays report for find back of bushels. Trade guessing US soy stocks at 37 year lows as of June 1.
Wheat as if 7:45-MW Down 2 KC Unchanged
Trade remains nervous over deterioration of HRW and SRW conditions with persistent rains cutting into quality of the crop. Canadian wheat conditions also continue to diminish. Trade looks at scenarios and reminisce at 2007 tight HRW year with a big inversion from December to July.
With temps rising have you checked your bins?? Let Wheat Growers check them for you with our bin probe truck!! Contact your local grain marketing specialist for details.