Monday June 15, 2020

  • Markets feeling pressure with lack of any sort of positive news this morning and fears of another coronavirus wave 
  • U.S. avoiding the worst of the ‘hot & dry’ weather that was on the forecast for this week with even some showers popping up at the end of the week into early next 
    • This change in forecast will make it hard for traders to continue to trade a dry weather scare
  • This morning NOPA will release their crush numbers for the month of May – numbers are expected to be strong, an improvement from April and higher than May of last year 
  • Fears of the second wave of the coronavirus are present in the markets this morning as Beijing elevates control measures after recent numbers surge
    • American cities are also seeing similar rises as restrictions loosen
  • Winter wheat acres in Ontario are at the highest level since 2013 says OMAFRA at 840,000 acres with only 2.6% of those having damage reports this spring