Quiet Consolidation After Volatile Price Week in Grains, Soybeans
Grain and soy futures supported by weather, lower-than-expected crop condition ratings.
Crops Analysis | June 10, 2021
New-crop corn, soybean futures extend rally on Midwest dryness, tight supplies.
Old-crop corn sales topped expectations, while new-crop sales were right in line with what the market expected. Exports of the grain held above 2 MMT.
FBN calling for soybean plantings to drop more than 1 million acres vs. March intentions. Rising grain crop forecasts for the Black Sea region.
More rain is coming for the Northern Plains. Weather will share the spotlight with USDA's June S&D and Crop Production Reports. JBS announces it did pay $11 million in ransom.
Corn condition ratings dropped a bit more than expected, while spring wheat ratings plummeted. Cotton ratings improved notably.