Tomorrow morning (6/30), USDA will release two highly anticipated reports that provide valuable updates to grain stocks and crop acreage. Traders finished squaring some of their positions ahead of those reports, with mixed results. Nearby corn contracts firmed nearly 1.5%, with soybeans also finding moderate gains today. Wheat prices are still struggling to find forward momentum, meantime, with most contracts taking on moderate losses.
Original content
Scattered rains will continue to fall on the Midwest and Plains between Thursday and Sunday, but very few areas will gather much more than 0.25” during that time, per the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook shows seasonally wet weather will be likely for the eastern Corn Belt between July 6 and July 12, with widespread hotter-than-normal conditions across the central U.S. On Wall St., the Dow shifted 181 points higher in afternoon trading to 31,128 as stocks move closer to the end of a mostly dismal Q2. Energy futures trended lower, with crude oil down more than 1% to $110 per barrel this afternoon. Diesel dropped 3%, with gasoline down around 2.5%. The U.S. Dollar firmed moderately. On Tuesday, commodity funds were net buyers of all major grain contracts, including corn (+11,000), soybeans (+13,000), soymeal (+4,500), soyoil (+4,500) and CBOT wheat (+10,500). Corn Corn prices were mixed after some uneven technical maneuvering ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.