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Good
morning.
 

 

Month
end. Follow through selling, poor manufacturing China economic data, and ample global grain supplies are weighing on CBOT ags.
The USD was up 25 points earlier and WTI crude oil $2.19 lower.

 

Week
to date price changes (Tue-Wed US, Mon-Wed palm and EU wheat)

 

There
were no major surprises for US crop progress. Many spot and benchmark ag futures hit multi-week or multi-month lows overnight. The SRW July wheat contract continued to lose ground to nearby corn. South Korea’s MFG bought 55,000 tons of feed wheat, optional
origin, at an estimated $263.90 a ton c&f. Malaysian palm oil traded sharply lower overnight on slowing palm oil exports. Offshore values were leading SBO higher by about 20 points this morning and meal $4.30 short ton lower.

 

Daily
trading limits expand in CME hogs after limit-up move today

https://www.cmegroup.com/trading/price-limits.html

 

Fund
estimates as of May 30

 

 

 

 

 

 

 

 

Weather

A map of the united states

Description automatically generated with medium confidence

 

 

World
Weather Inc.