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Private exporters reported to the U.S. Department of Agriculture export sales of 170,706 metric tons of corn for delivery to Mexico. Of the total, 21,340 metric tons is for delivery during the 2022/2023 marketing year and 149,366 metric tons is for delivery
during the 2023/2024 marketing year.


through selling in US agriculture commodities this morning on improving US weather forecasts and slow US export demand. StatsCan Canada area update was mostly as expected. USD is higher and WTI crude turned higher. August oil share made news highs overnight.
Third month Malaysian palm oil futures increased 80 ringgit to 3855, and cash increased $15.00 to $845/ton. Reuters noted the recent discount of palm olein against US SBO. Offshore values were leading SBO lower by about 82 points this morning and meal $5.80
short ton lower. Malaysia’s markets are closed for holiday June 29. A Bloomberg poll looks for weekly US ethanol production to be down 7,000 thousand barrels to 1045k (1035-1059 range) from the previous week and stocks off 49,000 barrels to 22.755 million.


Midwest rainfall this weekend will be erratic before increasing mid next week into the following weekend, providing an improvement in topsoil moisture. The US Northern Plains, upper Midwest and eastern Canada’s Prairies will see timely rain. Temperatures will
be seasonable to warmer than average. Europe
and the western CIS will be trending wetter for the balance of the week.




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estimates as of June 27 (net in 000)




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Weather Inc.


  • GFS
    model may be a bit overboard on two week rain amounts in the heart of the Midwest, but all models today continue to produce an outlook that brings relief to driest areas of the Midwest during the next ten days to two weeks.
  • Canada’s
    central Prairies do not get much moisture over the next ten days and with temperatures near to above normal crop moisture stress will be on the rise with many areas getting too dry
    • Southern
      and east-central Alberta and western and Central Saskatchewan have been fighting dryness all season and this pattern will not help the situation
  • Mexico’s
    monsoon rains are still expected to increase during the next two weeks, but the amount of moisture that gets entrained to the southwestern United States will be limited for a while longer
  • Northern
    U.S. Plains and Manitoba, Canada weather will be favorably mixed with showers and sunshine during the coming ten days
  • Europe 
    and western CIS weather continues to be mostly favorable with a mix of rain and sunshine expected throughout the next ten days; Pockets of dryness will remain
  • China’s
    heat wave and drought environment is not likely to have a big impact on key corn and soybean production areas, despite the media hype.  It is hot and stressful, but the key corn and soybean production areas will be fine
    • The
      area impacted will mostly be north of the Yellow River as we have been discussing for a while – that region produces spring wheat, sugar beets and little corn, but is not considered to be a key part of the nation’s corn and soybean production region and relief
      is coming
  • Eastern
    Australia rain is still expected next week
  • India’s
    central and northwestern Rain will occur as expected Tuesday except with a little less follow up rain next week relative to yesterday’s forecast