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