Tuesday June 2, 2020

• Soybeans hopeful with some Chinese crop purchases being made – sending mixed signals to the market as companies were told yesterday to halt purchases 
• Planting continues to chug along in the U.S. still ahead of average for the most part 
  • Corn planting now 93% complete 
  • Soybeans now 67% complete
  • Spring wheat 91% complete
  • Winter wheat ratings 51% good/excellent – down 3% from last week 
• Strong soybean crush numbers being reported for the month of April in the U.S. – down slightly from the month before but still a record for the month 
• Heat continues in the U.S. causing some dryness concern however expectations that they will get some relief from the tropical storm before major implications are made on the crop