With 97% of the crop planted and 86% of it emerged as of June 7, the U.S. corn crop maintains its 67% good to excellent rating from last week. 9 states showed improvement, 5 states posted declines, and 4 states had no change. Last year at this time 71% of the crop was rated G/E
Selected grain contracts at settlement...
Finally a day with some green on the board as corn inspection totals were strong and wheat saw some algorithmic buying...
July CORN: up 1¼ cents to $4.18¾
July SOYBEANS: down 5¾ cents to $11.15¾
July WHEAT: up 3¼ cents to $5.83¼
A significant downward change in managed money sentiment continues with hogs today...
July hogs fell $1.42½ to finish the day at $97.37½
Corn export inspections rose above the high end of expectations in the week ending June 4th while soybean and wheat totals fell towards the lower end of expectations. Japan was the top destination for soybeans followed by China
Wheat Sentiment: 4/10 Mildly Bearish
Deeply oversold charts have prompted a tenuous stabilization as global production vectors begin to sharply diverge. International moisture deficits are creating some anxiety but seasonal harvest acceleration is capping an immediate rebound
Soybean Sentiment: 3/10 Bearish
Global processing distortions and accelerating South American hravests continue to drain momentum from soybeans. Institutional risk-off selling ahead of upcoming USDA balance sheets has effectively overshadowed minor domestic flash-export signals
Corn Sentiment: 3/10 Bearish
Corn remains heavily anchored by liquidations and favorable weather, pinning it against immediate technical resistance. Despite strong ethanol margins, the broader mindset continues to prioritize near-term downside momentum over structural value
