United Farmers Cooperative

People . . . . Pride . . . . Purpose Since 1915

Tap For Menu

Market Thoughts by Marc - June 12 '17


July corn 377 ¼ - 10 ½                July Soybeans 931 ¼ - 10 ¼       July Mpls wheat 600 ½ - 6          
Sept corn 385 ¾ -10 ½               Sept soybeans 935 ½ - 10               Sept Mpls wheat 606 ¼ - 4 ¾ 
Dec 17 corn 395 ½ - 10              Nov17   Soybeans 938 ¼ - 10       Dec 17 Mpls wheat 605 ¼ - 3 ¼ 

 

The rain came down and so did prices. The substantial rain events that moved across much of the Midwest put a damper on the rally supported by last week’s hot and dry conditions.  Last week Mpls wheat led the prices higher and today they seemed to lead prices lower.  However by the end of the day, Mpls wheat gained back about ½ of the loss.  

 

USDA Export inspections for soybeans and wheat were above what the market was looking for. Corn was at the low end of the range of estimates. 

 

Brazil is just starting to harvest its second crop corn.  Argentina is just about done harvesting beans and half done with corn.

 

Weekly USDA Crop Progress and conditions 

 

-US corn crop conditions 67% good/excellent vs 67% expected (66-70% range of ideas), 68% last week, 75% last year - Dakotas conditions down sharply

 

-US soybean crop conditions 66% good/excellent vs 69% expected (65-71% range of ideas), 74% last year - conditions lowest in 4 years for mid-June, slightly below average

 

-US soybean planting 92% complete vs 94% expected (91-97% range of ideas), 83% last week, 91% last year, 87% average

 

-US winter wheat crop conditions 50% good/excellent vs 49% expected (48-50% range of ideas), 49% last week, 61% last year - SRW conditions up sharply

 

-US winter wheat harvest 17% complete vs 22% expected (17-26% range of ideas), 10% last week, 10% last year, 15% average

 

-US spring wheat crop conditions 45% good/excellent vs 53% expected (51-54% range of ideas), 55% last week, 79% last year - spring wheat conditions hammered again, down 10% g/e last week.

 

 

 

 

 

 

 

 

 

 

 

This material has been prepared by a sales or trading employee or agent of MPT Brokerage Services and is, or is in the nature of, a solicitation. This material is not a research report prepared by MPT Brokerage Services. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
DISTRIBUTION IN SOME JURISDICTIONS MAY BE PROHIBITED OR RESTRICTED BY LAW.  PERSONS IN POSSESSION OF THIS COMMUNICATION INDIRECTLY SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH PROHIBITION OR RESTRICTIONS.  TO THE EXTENT THAT YOU HAVE RECEIVED THIS COMMUNICATION INDIRECTLY AND SOLICITATIONS ARE PROHIBITED IN YOUR JURISDICTION WITHOUT REGISTRATION, THE MARKET COMMENTARY IN THIS COMMUNICATION SHOULD NOT BE CONSIDERED A SOLICITATION.
The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that MPT Brokerage Services believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. 

Tap For Sitemap

Agronomy

AgQuest

Energy

Farm & Grain Equipment

Feed

Grain