Friday June 4, 2021

• Back up again on the overnights after some drastic up and downs yesterday 
• The trade still fighting with itself – bulls want to go up as the dry hot weather is sure to stress the crops but bears are quick to remind the market place that currently the crop is in excellent condition 
  • We will see which attitude will carry us into the end of the week
• Argentine corn harvest an estimate 34% complete with early yield reports coming in higher than expected 
• Weekly U.S. export sales were mixed – corn seeing an impressive week
  • Corn exports for last week came in above highest end of expected range, beans came in low end of range and wheat saw more cancelations than had been expecting
• Global crop conditions for corn, wheat and soybeans
  • Corn, mostly favorable across the U.S., some concern in Argentina – as known, overall no major global concerns
  • Wheat looks very strong across Europe, Western Canada has some concerns due to the dry weather 
  • Soybeans also seeing mostly favorable conditions across the U.S. with some concern in Northern Argentina