Tuesday June 22, 2021

• Markets mixed this morning with another round of rains forecasted later in the week keeping the lid on any gains that the decline in crop ratings had sparked on the overnight 
• Estimates surfacing that Chinas June soybean imports reached an all time record of 11.6 MMT – this would put total imports for the first half of 2021 at 46.9 MMT – up 11% from last year
•  Weekly US crop conditions ratings
  • Corn: fell 3 points to 65% g/e – now below 5 year average of 69% g/e 
  • Soybeans: fell 2 point to 60% g/e – continuing to slip below average of 67% g/e 
  • Winter wheat harvest now 17% complete – still trailing average pace of 26% complete 
    • Spring wheat ratings fell 10% in a week to 27% g/e