Thursday June 18, 2020

• Trade still waiting on the results of the rains over the Midwest – not necessarily a crop breaker if missed but could certainly relieve some pressure if coverage is good
• Export numbers not living up to last week 
  • Corn sales are almost half of last weeks and below expectations
  • Soybeans also just over half of last week but within range of expectations for old crop where as new crop sales came in strong over expected range
  • Wheat had a good week as well seeing sales above expected range
• Unfriendly comments from Brazil towards China could turn into support for commodity prices as tensions rise 
• Early harvest results for wheat in the U.S. show good yields so far