farm focus · 7/6/2018 · world wheat exporters. world wheat exporters. corn chart. soybean...
TRANSCRIPT
Today’s Prices
Grains: Price Change
Corn - July 2018 3.76 (0.02)
Corn - December 2018 3.97 (0.03)
Soybeans - July 2018 9.74 (0.20)
Soybeans - November 2018 9.95 (0.19)
KC Wheat - July 2018 5.45 0.05
Mpls Wheat - July 2018 5.99 0.01
Outside Markets: Price Change
Crude Oil - July 2018 65.77 1.04
Ethanol - July 2018 1.45 0.02
Gold - June 2018 1,299 1.60
U.S. Dollar Index 93.37 (0.26)
Dow Jones Industrials 25,211 65
Live Cattle - June 2018 108.38 0.08
Feeder Cattle - August 2018 146.08 (0.68)
Lean Hogs - June 2018 78.40 0.23
Grain Market News
• Corn and soybeans closed lower again today.
• Corn and soybeans are now at the lowest level since the Jan-Feb time frame.
• Funds are reported to be heavy sellers with charts pushing to new lows.
• The grain markets remain concerned about U.S. trade and exports.
• President Trump will attend the G7 meetings Fri-Sat in Canada.
• Mexico is not part of the G7 and will not be in attendance.
• U.S. chief economist Larry Kudlow explained why the U.S. is not accepting
China’s offer to buy an additional $70 billion in U.S. goods.
• Issues include: Lack of agreement on intellectual property, U.S. companies
required to form joint ventures, Chinese market access, Phytosanitary items.
4-Day Observed Precipitation
14-Day Observed Precipitation
7-Day Precipitation Forecast
Grain Market News
• Brazil’s safrinha corn harvest is just beginning with 1% harvested in their
largest producing state of Mato Grosso.
• The trade is expecting USDA to lower Brazil production by 2.5 mmt vs. May.
• U.S. winter wheat harvest is 5% complete vs. 4% average.
• TX = 35% OK = 7% KS harvest is just beginning.
• The trade is expecting ww production of 1.190 bb, equal to USDA’s 1.192 bb.
• World wheat weather concerns are providing support to wheat prices.
• Dryness continues eastern Europe toward the Black Sea and also Australia.
World Wheat Exporters
World Wheat Exporters
Corn Chart
Soybean Chart
Wheat Chart
