BEEF EXPORTS: Beef sales for export of 11,400 MT for 2025 were down 19 percent from the previous week and 9 percent from the prior 4-week average
US Cattle Report by National Beef Wire
July corn is currently trading at $4.3175, up 2.5 cents on the day and 11.75 cents over the past two sessions. Since closing at $4.095 on Thursday, June 26—the lowest mark in June—corn has gained in four of the last five trading days, rising a total of 22.25 cents. In the Corn Belt, warm, mostly sunny weather is promoting a rapid pace of corn and soybean development, with a portion of both crops moving into the reproductive stage of development (corn futures)
CLARA (Cattle Livestock Analytics and Reporting AI)
USDA GRAIN STOCKS REPORT: Corn stocks in all positions on June 1, 2025 totaled 4.64 billion bushels, down 7 percent from June 1, 2024. Of the total stocks, 2.56 billion bushels are stored on farms, down 16 percent from a year earlier.
Market Update
Cattle Producer Weather Report: El Reno, OK saw heavy morning rain tapering by midday with a high near 71°F. Amarillo, TX faces scattered afternoon storms and 72°F. Garden City, KS clears to sun with a high of 74°F, while Aberdeen, SD turns breezy with a high near 74°F and a chance of evening showers.
CLARA: Cattle Barometer
STOCK UPDATE: Stock indexes are sharply lower for the second session, with the S&P 500 down 98.75 points to 5,750.97, the Dow down 787.63 points to 42,403.61, and the Nasdaq down 278.11 points to 18,072.08. The S&P 500 and Nasdaq 100 have dropped to 4-month lows, while the Dow Jones is at a 7-week low, driven by escalating global trade tensions. New U.S. tariffs on imports from Canada, Mexico, and China took effect today
Market Update
DAILY EXPORT SALES: Private exporters reported sales of 128,000 metric tons of soybeans for delivery to Mexico during the 2022/2023 marketing year
Exports
Gas prices up 5 cents this week to $3.13, down $0.06 from last year. Diesel prices up slightly this week to $3.67, down $0.44 from last year
Cash Prices
USDA CROP PRODUCTION: Corn production for grain is projected at 15.1 billion bushels, slightly below the previous forecast and down 1% from 2023
WASDE
CORN PLANTING PROGRESS: U.S. at 83%; Iowa at 88%; Kansas at 85%; Missouri at 87%; Texas at 92%; Ohio at 79%
US Cattle Report by National Beef Wire
Disney posts surprise profit in streaming entertainment, raises earnings forecast... Walt Disney's streaming entertainment unit posted its first profit, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts were yielding results. (Reuters)
Market Update
COTTON PROGRESS: 54% of the cotton in the U.S. had been planted by May 22nd, compared to 37% last week and 47% last year
National Cotton Wire
AMARILLO WEATHER: Scattered showers and thunderstorms, then showers and possibly a thunderstorm after 8am. High near 52. Northeast wind 10 to 15 mph increasing to 15 to 20 mph in the afternoon. Winds could gust as high as 30 mph. Chance of precipitation is 90%. New rainfall amounts between a half and three quarters of an inch possible (NWS)
Weather
DROUGHT MONITOR: It’s hot and dry in the Southwest. Exceptional drought (D4) has developed or expanded in parts of Utah and New Mexico. Meanwhile, most states in the West and Great Plains saw improvements, except for areas of Montana and Texas
Weather
DROUGHT MONITOR: Drought coverage across the U.S. and Puerto Rico topped 40% (40.01%) for the first time since late September and for the fifth time in 2021. The lowest percentage of drought coverage across the U.S. & P.R. so far in 2021 occurred in late May (36.3%)
Market Update