July 2nd, 2013
Corn as of 8:00 am. Sep. up 2 Dec. up 4
Corn a little higher this morning as values relax after two days of trading the USDA report. Weather conditions seem to be improving going into next week. World corn stocks expected to be at a 13 year high at 946 mmt versus 856 mmt last year. Yesterday's crop progress report showed slow, but steady improvement in the corn. It's rated 67% which is up 2% from last week. National corn crop seen at 3% silking versus 9% average. Old crop corn tightness may bring some redeemable prices. New crop is at the mercy of the weather.
Soybeans as of 8:00 am. Aug. unchanged Nov. up 5
Soybeans mixed. Old crop is still tight which should lend a hand in keep old crop prices respectable. New crop numbers seeing a little pressure despite planting acres being down. The condition report yesterday also is at 67% good. This was also up 2%. Again slowly and surely the crop seems to be improving.
Wheat as of 8:00 am. Spr. Wheat. up 7 Win. Wheat. up 8
The market is moving with the harvest. Yesterday's export numbers where very good. Harvest yield numbers are better than expected as harvest moves north through Kansas. Look to see this market keep riding on harvest news.