PDF Attached

 

Morning

 

The
general US weather theme is unchanged from yesterday.  A short-lived ridge will develop over the US Midwest next week. Before and after that event sporadic rain will occur.  Corn, wheat and soybean prices are mostly lower led by corn. USDA crop progress showed
a 1 point improvement in corn while a 2 point decrease in soybeans are limiting early losses.  Spring wheat ratings declined 6 so look for a possible two-sided traded in MN.  Japan seeks 101,243 tons of food wheat later this week.  China imported 370,000 tons
of pork during May, up 86 percent from the previous year, and 640,000 tons of corn, down 15 percent. China’s Sinograin sold 1.1MMT of corn out of auction (1.7MMT total so far this season). 

 

 

 

Weather
and Crop Progress

 

 

 

 

 

 

 

 

 

 

 

 

 

Source:
World Weather Inc. and FI

 

 

Bloomberg
Ag Calendar

TUESDAY,
June 23:

  • China
    cotton, corn, wheat and sugar imports

WEDNESDAY,
June 24:

  • EIA
    U.S. weekly ethanol inventories, production, 10:30am
  • U.S.
    poultry slaughter, 3pm

THURSDAY,
June 25:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • International
    Grains Council monthly report
  • Port
    of Rouen data on French grain exports
  • Malaysia’s
    palm oil export data for June 1-25
  • USDA
    hogs and pigs inventory, red meat production, 3pm

FRIDAY,
June 26:

  • ICE
    Futures Europe weekly commitments of traders report, 1:30pm (6:30pm London)
  • CFTC
    commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
  • FranceAgriMer
    weekly update on crop conditions

Source:
Bloomberg and FI

 

 

 

 

USDA
inspections versus Reuters trade range                                                    

Wheat                 
613,052                 versus   400000-600000  range

Corn                     
1,295,845             versus   950000-1250000                range

Soybeans           
254,929                 versus   300000-500000  range

 

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