- Overnight grain markets: Corn -6 ½, Soybeans -4, Wheat -18, Crude +.67, gold +1.30, Dollar -.17, Dow futures -85.
- Market pressure generated by a less impactful forecast this morning and rains that came for parts of the Corn Belt over the last 24 hours.
- USDA reported corn crop conditions 68% good/excellent compared to 67% last week, 75% last year and 68% average year-to-date.
- USDA reported soybean crop conditions at 64% good/excellent compared to 66% last week, 70% last year and 64% average year-to-date.
- USDA reported spring wheat crop conditions 37% good/excellent compared to 40% last week, 72% last year and 73% average year-to-date. This was below trade expectations of 38%.
- USDA reported winter wheat harvest 53% complete compared to 41% last week, 56% last year and 51% average year-to-date.
- Brazil is reported to have a record corn crop and little storage. It is anticipated that they will be motivated sellers during the first part of their harvest, which will in turn pressure Chicago Board of Trade prices. June shipments are estimated by analysts to be a record 1.2 MMT.
- Wednesday funds bought 12,000 corn, 12,000 soybeans, 6,000 wheat, 6,000 meal. Even oil.
- EIA Energy Stocks report today at 10am CDT.