West Central Ag Grain Comments 06/06/25 8:55:01 AM
6/6/25
Good morning. Happy Friday. Grain markets are mostly lower to end the week as favorable weather continues to limit the upside. Corn, beans, and wheat are all down 1 to 3 cents this morning. Rain coverage was adequate for the Midwest this week and warm temps arrive again next week. The China/U.S. phone call enthusiasm quickly wore off as the details, once again, remain lacking. The July corn contract continues to get battered versus the deferreds, with the July/Sept corn spread trading into single digit inverses now. In non-grain news, President Trump and Elon Musk got into an public spat yesterday. The two are expected to have a phone call today. This will likely be the distraction for the media this weekend. With one more session to go, the weekly charts show July corn looking at a lower close, and the July beans and wheat trying to hold on to weekly gains. The meal market remains in its month and half long sideways pattern, while bean oil continues to wait for policy news. The cattle markets set new contract highs again yesterday. The USDA report is out next Thursday, June 12th. |
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