Good morning!
Once again – today is pretty easy to figure out, it is all weather. The weather models remain hot and dry so the market continues to add a risk premium to the market. Some models are showing rain chances late next week, while others are showing it to remain hot and dry. The first true sign of relief could/should slow this rally down.
Friday morning the USDA will give us final planted acreage numbers as well as the quarterly stocks report. Then a couple weeks after that they will be plugging those numbers into the S&D as well as tinkering with demand projections and we will have a better idea of how tight things will be both at the end of this summer and at the end of next.
Currently
Corn is 25 to 30 cents higher
Soybeans are 20 to 25 cents higher
Have a great day!
USDA REPORT SNAPSHOT:
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