Morning Commentary

Sept corn up ¼ at $4.4975

Aug beans up 2 ½ at $9.0225

The DOW is up

USD is weaker

Crude oil down $.26 at $59.12

Good morning,

Corn  prices have essentially done nothing this week, preferring to chop around ahead of tomorrows USDA Acreage and Quarterly Stocks report and ahead of the highly anticipated Trump/Xi meeting. There’s really nothing fresh or new to discuss. The planting story is moving behind us and a long and uncertain growing and harvest season are ahead. Bears continue to talk about demand deterioration. Ethanol production was lower for the second week in a row, and this morning the trade will be digesting the latest weekly export numbers.

Soybean  traders are eager to hear what the USDA has to say in tomorrows June Acreage and Quarterly Stocks report. Even of greater importance are the headlines surrounding the upcoming meeting between President Trump and Chinese President Xi Jinping.


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