June 11th 2014
Grain Marketing Specialist
Crop production and Supply and Demand Report out this morning at 11am!
Things to watch for; US new crop yields, China 2014/15 soybean import expectations, and old crop soybean tightness.
As of 8:00am July 1 higher, Dec. unchanged
Corn is holding support around $4.45. Not much expected to change with today’s supply and demand report. Weather forecasts are considered favorable for the near future. Ethanol numbers out today as well.
As of 8:00am July. unchanged, Nov. 4 lower
Tight old crop supplies continue to support nearby soybean prices. Weather forecasts could slow down soybean plantings. We will see what the report says this morning. Soybean market remains volatile.
As of 8:00am 4 higher
Wheat is a little higher this morning. Thoughts that the USDA might cut 25-50 million bushels of total production on winter wheat. Weather forecasts could make harvesting of winter wheat difficult, but its helping the spring wheat. Let us see what happens at 11.