MarketEdge PM Comments
Jun 09, 2023
(Sam Bair)
Good evening,
Markets are in the Green after today’s session. July corn futures are up 6^0 closing at 610^2, New crop corn is up 2^2 closing at 533^0. July Bean futures are up 2^4 closing at 1363^2, new crop soybeans are up 10^4 closing at 1189^0.
Good evening,
Markets are in the Green after today’s session. July corn futures are up 6^0 closing at 610^2, New crop corn is up 2^2 closing at 533^0. July Bean futures are up 2^4 closing at 1363^2, new crop soybeans are up 10^4 closing at 1189^0.
- Trade exports continue to struggle, as Mexico cancels almost 120,000MT of new crop sales
- Markets continue to follow the weather forecast.
- Midday GFS changed its forecast shifting drier, more like that of the EU model.
- US Drought Center reports that at least 45% of the US corn crop and 39% of bean crop are at a D1 drought or worse.
- All livestock markets slide today
- DJI, S&P, Nasdaq all finish in the green
- Be aware of many terminals switching over to the Sept. futures, make sure to have old crop as well as new crop offers set up with your grain originators!
- Don’t forget the WASDE Report comes out tomorrow at 11am CST