Monday June 7, 2021

  • Markets started the week with some huge gains on the overnight trades however loosing some of that ground in day trading this morning 
  • Forecasts now doubling down on the hot dry weather for the month of June – seemingly the catalyst for todays gains 
    • Further demonstration of just how volatile these markets on – any deviation from the “perfect growing season” is being met with 
  • USDA report Thursday June 10 – monthly report on U.S. and global supply and demand and South American production
    • Corn expecting to see – cuts to brazil production, as well as a decrease in U.S. carryout due to increased demand with higher export and ethanol usage 
    • Soybeans carryout expected to remain mostly unchanged – Brazilian production not expected to change much from last months report 
    • Wheat all production for U.S. expected to increase slightly from last months estimate
  • Overall this report is not expected to ruffle to many feathers – largely looking to see how aggressive the USDA will cut the Brazilian corn crop due to the losses in their safrinha crop 
  • The report to watch will still be the end of the month planted acres report