Wednesday June 10, 2020

• China coming back in to purchase some American soybeans helping bring some life back to the markets after yesterdays losses
• Improving conditions with beneficial rains continue to pressure the corn market but as forecasts turn back to dry we will see if there was enough moisture to ease dryness concerns
• Argentine wheat production estimates for 2020/21 were raised by ABARES from 21.3 MMT to 26.7 MMT due to recent rains 
• Russia’s SovEcon also raised their wheat production estimates for 2020 from 81.2 MMT to 82.7 MMT – also increasing their corn production from 13.3 MMT to 14.8 MMT 
• USDA report out tomorrow at noon – generally subdued markets heading into reports