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Gary's Blog 06/16/26 7:05:52 AM
6-15-26 Crop ratings G/E %
TW LW OH
Corn 68 67 64
Beans 66 65 49
6-15-26
After a lower open, grains were able to make a nice turnaround and finish in the green. Key support levels held in both corn and beans as bottom picking/end user pricing showed up mid-morning. Fridays CFTC report showed funds are now net short the corn/wheat markets while still long nearly 100k soybeans. There has been a sizable shift in ownership as just a few weeks ago funds held 350,000+ net long corn position. The key here being do they test the short side in a similar fashion? If so that would probably mean sub $4 corn. Weather forecasts are arguably too wet for some, but overall net positive for most, thus bearish. Locally we could see 1-3inches this week with some strong storms. (not ideal for the wheat) It will be a short week with no markets on Friday because of Juneteenth.
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