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Volatility is here. Money flow will be key to market action moving forward. China remained an aggressive importers of grains and pork during May, despite high prices. Refiners appear to be betting on a blending reprieve.

Nearly half of rural bankers report their local economy grew in May to June.

Cash prices for soybeans and corn fall.

The National Weather Service is calling for above-normal temperatures over most of the country during the July through September period.

Warm, dry conditions prevailed in northern and western areas of the Midwest the week ending June 15, resulting in the “widespread worsening of drought and dryness,” according to today’s National Drought Monitor.

Ahead of the Open | June 17, 2021 Soybean futures extend slump to seven-week lows on Midwest weather, corn, wheat also down.

Export sales of corn were light, as expected, but old-crop sales did manage to stay in positive territory. Wheat sales were also near the lower end of expectations. Total soybean sales fell short of 72,000 MT.

Hot, stormy weather is expected for the Midwest, pressuring grain and soy futures. A bipartisan infrastructure plan gains support. And Biden and Putin agree to disagree at their summit yesterday.