CME GRAINS: Corn: $7.545 (+10.75); Soybeans: $16.26 (-49.00); Wheat: $8.3125 (-37.50); Cotton: $103.68 (-0.26)
National Corn Wire
STOCK UPDATE: Dow 30: 31,097.26 (+321.83); Nasdaq: 11,127.85 (+99.11); S&P 500: 3,825.33 (+39.95) (Stocks Recover Early Losses and Close Higher as T-Note Yields Fall)
Market Update
ENERGY PRICES: Crude Oil: $108.46 (+2.70); Heating Oil: $3.9603 (+0.1298); Natural Gas: $5.62 (+0.196)
Market Update
Short Range Weather: Heavy Rainfall for Portions of Coastal Texas; Fire Weather Concerns for Alaska
Weather
CORN MARKETS: Corn acres came in a bit higher than expected at 89.9 million, which is still well below last year. Traders, however, did not react well to the numbers and the corn finished the session sharply lower (Schwieterman)
NBW Market Commmentary
GRAIN TRENDS (Short Term/Long Term): CORN: Down/Down; WHEAT: Down/Down; SOYBEANS: Down/Down
National Corn Wire
USDA GRAIN STOCKS REPORT: Corn stocks in all positions on June 1, 2022 totaled 4.35 billion bushels, up 6 percent from June 1, 2021. Soybeans stored in all positions on June 1, 2022 totaled 971 million bushels, up 26 percent from June 1, 2021
Market Update
Short-term optimism for the US economy dropped to its lowest point in nearly a decade last month. On the plus side: America’s trade deficit narrowed to its smallest level this year as US exports rose to a record $176B (Robinhood)
NBW Market Commmentary
GRAIN MARKETS: All eyes on tomorrow’s reports; More reports of Russian grain theft; DDG values up $10/ton in past week; Farmers also selling new crop (AgriVisor)
National Corn Wire
BEFORE THE BELL: Wall Street futures declined on fears of global recession, while investors awaited the final estimate of first-quarter gross domestic product data (Reuters)
Market Update
TODAY'S AG WEATHER: On the Plains, hot weather persists in much of Oklahoma and Texas, while temperatures are rebounding to above-normal levels farther north
Weather
Cargill RegenConnect™ regeneratively-sourced cotton program works to build a regenerative, traceable supply chain for growers and buyers
Farm Network
Dr. Anthony Fauci tested positive for COVID and is isolating and working from home with mild symptoms. He's vaxxed and double-boosted (Axios)
World News
NATIONAL AG SUMMARY: Some locations in Alabama, Arkansas, Florida, Oklahoma, and Tennessee recorded at least 5 inches of rain
Market Update
USDA Crop Production Comments: Winter wheat production is forecast at 1.18 billion bushels, up 1 percent from the May 1 forecast, but down 7 percent from 2021
Market Update