Tuesday June 9, 2020
- Some reassurance from USDA crop conditions report yesterday afternoon is reminding the market that although the supply and demand situation is improving its far from a rosy outlook
- Scattered rains also expected today pressuring any gains made on the back of dryness concern – however after today the 10 day forecast leans back to warm and dry
- Chinese customs reported 9.38 MMT of soybean imports in the month of May – up from April and May of 2019
- Cumulative Jan-May imports have reached 33.9 MMT – an increase of 7% from last year however still 6% below 2018’s comparable
- Planting in the U.S. finishing up
- Corn 97% planted – compared to 78% complete this week last year
- Conditions ratings rose to 75% good/excellent
- Soybeans 86% planted – compared to 54% complete last year
- Conditions ratings up 2 points to 72% g/e
- Winter wheat conditions ratings were steady at 51% g/e
- Corn 97% planted – compared to 78% complete this week last year
- Most of Ontario set to go into phase two as of Friday with more businesses able to open and group sizes increasing to 10 people