Wednesday June 17, 2020

• Wheat remains the anchor as harvest has begun world wide and conditions have been fair 
• Canadian Dollar has recovered significantly as fundamentals continue to improve as unemployment has rebounded as well as more sustainable oil prices 
• Critical rainfall on tap for parts of the U.S. plains in the next 24 hours that the trade will be watching – if its missed there may be more optimism for the bean and corn bulls to build in some dryness risk 
• OMAFRA reports Ontario cash price for corn as of the 22nd week of the year (last week in May) is below average pricing, as we approach the time period in which we usually see a price rally 
  • Highs have ranged between the 21-29th week of the year in the past five years