Good morning!
It was a painfully quiet trade last night on very light volume and narrow ranges. This lack of news is taking its toll on what had been a wild ride for grains – calls this morning are all “choppy” and “two-sided”.
The weather forecasts continue to show a warm, dry finish for the month of June and into early July. For now, warm and dry will be seen as a boost to crop conditions for both corn and soybeans. In the short term for the corn belt the forecasts look warm and dry for the next week with a small mix of rain and isolated showers.
Later this morning a well-followed private company (Informa) will release its estimates on planted acres – remember the USDA graces us with their numbers on June 28th. Hopefully this injects a little life into the market – one way or the other.
Opening calls
Corn down 1 to 3 cents
Soybeans steady to down 2 cents
Have a great day!
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| 14-Day Precip History as a Percent of Normal: |
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