CORN
- July Corn up 7 @ 6.98 & Dec corn up 3 @ 6.13
- USDA REPORT: US old crop ending stocks 1.107 Vs 1.257 in May
- USDA REPORT: US new crop ending stocks 1.357 Vs 1.507 in May
- USDA REPORT: Argentina production 47 unchanged from May
- USDA REPORT: Brazil production 98.5 VS 102 in May
- O/I: Lost 38,248 positions in July futures
SOYBEANS
- July down 24 @ 15.38 & Nov down 6 @ 14.42
- USDA REPORT: US old crop ending stocks 135 Vs 120 in May
- USDA REPORT: US new crop ending stocks 155 Vs 140 in May
- USDA REPORT: Argentina production 47 unchanged from May
- USDA REPORT: Brazil production 137 VS 136 in May
- O/I: Lost 21,784 positions in July futures
WHEAT
- July wheat down 6 @ 6.76, July KC down down 2 @ 6.33, July MNPLS up 2 @ 7.66
- USDA REPORT: US old crop ending stocks 852 Vs 872 in May
- USDA REPORT: US new crop ending stocks 770 Vs 774 in May
- USDA REPORT: World ending stocks for 2021-22 296.8 Vs 294.96 in May
- US REPORT: US wheat production 2021-22 for all wheat 1.898 versus 1.872 in May
- O/I: Lost 9,586 positions in July wheat & lost 7,791 positions in KC July wheat
CATTLE
- Aug LC up .17 @ 118.45 & August FC down .40 @ 147.87
- Boxed beef higher again – may indicate demand remains stronger
- Cash cattle continues to trade steady at 119-120
- Cattle slaughter projected at 120K
- Feeder Cattle cash index for June 8: down .08 @ 140.04
- Open interest lost 1,343 for Aug LC & lost 169 for Aug FC
HOGS
- July hogs down .30 @ 121.15 & June Pork Cutout down .37 @ 134.70
- Hogs continues to make contract highs keeping trend higher
- Packers remain aggressive and ready to pay more to keep plants running
- Hog slaughter projected at 484K
- Cash lean index for June 7: up 1.26 @ 117.77
- O/I: Lost 4,766 for July hogs & June pork cutout lost 30 positions