CORN
- Sept up 40 @ 7.34 & Dec up 40 @ 5.88
- USDA reports US corn stocks at 7.701B bu versus 7.952B in ‘20
- USDA reports US corn planted 92.7M acres versus 91.1M
- USDA reports US corn harvest at 84.5M acres versus 83.5M
- US ethanol production for week ending 6/25 averaged 1.058 M barrels per day – up .95% from last week
- Rains leaving parts of IL & MO flooded
- O/I: Lost 2,589 positions in Sept futures
SOYBEANS
- Aug up 76 @ 14.15 & Nov up 81 @ 13.98
- USDA reports US soybeans stocks at 1.564B bu versus 2.255B in ‘20
- USDA reports US soybeans planted 87.6M acres – unchanged from June 1
- USDA reports US soybean harvest at 86.7M acres – unchanged from June 1
- Rumors of additional China demand for US beans have yet to be seen on balance sheet
- O/I: Gained 1,235 positions in Aug futures
WHEAT
- Sept wheat up up 23 @ 6.69, Sept KC up 19 @ 6.46, Sept MNPLS up 24 @ 6.71
- USDA reports US wheat stocks at 1.314B bu vs 1.415B in ‘20
- USDA reports US wheat planted 46.7M acres versus 46.4M from June 1
- USDA reports US all wheat harvest at 31.1M acres vs 37.4M from June 1
- US Northern Plains still under extreme drought conditions & high heat
- O/I: Lost 1,255 positions in Sept wheat & gained 1,248 positions in KC Sept wheat
CATTLE
- Aug LC up .67 @ 122.67 & Aug FC down 2.77 @ 154.62
- Cash cattle has not been very active – better potential for higher prices
- Feedlots holding the cards as they know packers will need purchase before week’s end
- Cattle slaughter projected at 121K
- Feeder Cattle cash index for June 28: up .54 @ 146.72
- O/I: Lost 1,086 for Aug LC & lost 260 for Aug FC
HOGS
- Aug hogs up .27 @ 103.90 & July pork cutout down .15 @ 114.20
- July hogs hold a discount to cash
- August hogs futures closed a chart gap yesterday – trend looks higher
- Hog slaughter projected at 462K
- Cash lean index for June 25: down 1.24 @ 114.19
- O/I: Lost 3,069 for Aug hogs & July pork cutout lost 7 positions
Author
Amberlee Bratcher