** 6:30 AM CST CBOT Prices: July soybeans are up 2.00 cents at $9.24, July corn is down .75 of a cent at $3.7225 while July Chi wheat is up 2.50 cents at $4.32. ** AgResource AM Grain & Oilseed Comment: Good Morning! The overnight CBOT trade has been mixed with the corn market handling…
CBOT corn ended steady to marginally higher. The Central US forecast is still very hot across the W Corn Belt into the coming weekend. Some relief is offered thereafter, but confidence in extended outlook – as is usual during summer – is low, and so selling futures today seems inherently risky. Crop conditions rebounded, and…
July MGE’s premium to KC has rallied to $1.59/Bu, the highest since 2012, and further gains are likely. US spring wheat crop conditions plunged this week, and still there’s no sign of a lasting cool/wet pattern across the Dakotas and MT through latter part of June. ARC doubts CME & KC futures can trade much…
Central US Still Warm/Dry Near Term; Wetter in Late June?: The EU & GFS models are in good agreement that sustained heat will impact the Plains and Western Corn Belt over the next 6-7 days. Rainfall through the period will be strictly confined to the Southeast and Atlantic Coast, and so steep declines in soil…
The June International Trade Report released last week, showed a counter seasonal decline in monthly beef exports. In the month of April, the US shipped out just over 218 Mil Lbs of beef, down from March but also well over both last year and the 5 year average. Jan-Apr beef exports are 20% larger than…
