The Final Bell

Some rain in the western corn belt. Rains were wide spread across the corn belt. Crop progress out this afternoon. Weekly export report showed some strong numbers for corn, but soft for beans. Livestock, doesn’t have anything outstanding on the cattle on feed report. How is consumer demand going, with weather & restaurants starting to reopen. boxed beef prices averaged the lowest the market's seen since the week of April 11. China and trade deal work-banning poultry from Arkansas & Tyson. Hog market sees week cash

Wheat harvest, July options, many balls in the air with many things being tossed at it over the weekend into the Sunday night trade. China talk let’s get a confirmation before the markets take reaction. Crude oil sees a bit of a rally. Boxed beef has taken another drop…dog days of summer hitting many how does it effect consumer demand. COVID-should we have another shelter place how is that going to effect & the back log of cattle.

How would you describe the current state of the corn market?

What does the soybean market look like to you?

Why haven’t we got our normal spring bounce?

How are exports doing on corn and soybeans?

What does the corn demand for ethanol look like?

Are we getting many ethanol exports?

What will it take for the markets to move higher from here?

6-17-20 How has the feel been for the markets today? Mid-week vibes? How are we looking demand wise from driving to grilling? As more places get back to "normal" some businesses will continue to struggle & that has & will take a toll on the meat industry. Ethanol industry continues to come back online.

Markets had an almost standstill type of feel to it. How do you market in a day like today. There is a move to a weather-related market, as winds pick up & rain has stopped in many areas. Crop Progress report out this afternoon, any surprises expected? Stabilization to the ethanol market. So, IS China back into the market for U.S. beans? The Real has slipped a bit, is there pressure from South America for grain purchases & China? Livestock, just like grains had an uneventful trading day. Feeders did push to some higher money, but not by much. Cash looks to be steady this week, we have a cattle on feed report on Friday. How will that effect the trade? Sue is a bit more price positive to the hog market.

Kent Beadle with AgSurion CHS Hedging talks grains and market fundamentals on a big week for the commodities.

How did the US numbers look in the WASDE report? Was there any surprises in the world numbers in the WASDE report? Will the corn demand for ethanol need to be lowered more down the road?  How does the export demand look for corn and soybeans? Do you think the crop is on pace to achieve the trend line yields for corn and soybeans?  Will there be much for adjustments in corn and soybean acres down the road? How does the corn and soybean markets look from a technical perspective? What will it take for the markets to move higher from here?  How does the weather look to you going forward? What would you do with unsold old and new crop corn and soybeans?

Federal reserve keeps the pedal to the medal and keeps the money flowing which makes the markets happy. Expecting the USDA to cut some global crops tomorrow while increasing others. Feel weather wise is dryer in the Midwest, but Kansas & Nebraska as the dry spots. Crop ratings are still high. South America is dealing with dryness in Argentina. Some planting of winter wheat is underway while harvest continues. Getting slaughter close to year ago levels. Refilling the pipeline. Product prices, how long till the consumer sees the price difference? A lot of product dump in the U.S. as we wait for restaurants to reopen.

Cattle market has some bearish feel to the trade. Nothing exciting in the cash cattle market. Will we see boxed beef continue to drop? What about all the meat that is “sitting around”? Beef lower, cash lower, Latest inquiry from the Justice Department. 60 days yet of muddy waters to get through. Pork exports ALL TIME high. Are we building premium into the back months? Friendly to the grains.

6-8-20

Funds are liquidating during the day trade after liquidating overnight. Buy corn/sell beans is the feel. Weather is the market right. No major signs of drought in the Midwest. Crop progress info out later this afternoon. Southwest Kansas dry but not drought dry. Brazil should be releasing final bean & corn estimates. Shouldn’t be a surprise to see a large number of soybeans & unchanged on the corn. S&D Report comes out on Thursday. Not a lot of replant going on across the U.S. we need the problems to adjust the markets, but we must live in reality. Ethanol margins remain stable.