Morning Comments June 22, 2017
Thursday, June 22, 2017, 8:06 AM
Submitted by: Landus Cooperative
Corn -2 or -3
Beans -4 or -5
Crops continue to ease as rain moves through the Midwest. The weather forecast for the next two weeks still appears unthreatening with no excessive heat in the 10 day forecast and the chance for occasional showers in most areas. Illinois, Indiana, Ohio crop conditions are lagging behind last year by a wide margin and is beginning to have some in the trade questioning USDA national yield projections. The market will more than likely go back into the trading range and wait to see how the June 30th USDA report and the July weather forecasts shape up.
Export sales this morning showed both corn and beans having lower actual sales than the trade’s expected range.
Energy markets continue to be negative for the corn market with both crude oil and gasoline futures hitting multi-month lows. The U.S. dollar and crude oil are trading flat today.
Reminder: Landus Cooperative is co-hosting a seminar at the Wild Rose Casino in Jefferson on Monday June 26th. Registration begins at 12:00 p.m., and the seminar wraps up at 5:00 p.m. with heavy appetizers and a hosted bar. Kurt Barth from Brock Associates with be discussing different marketing strategies, and Al Dutcher, Nebraska State Climatologist, will go over the weather outlook. This seminar is free if you register through Landus Cooperative!
Have a great day!