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Gary's Blog 06/10/26 2:04:17 PM
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6-8-26 Crop ratings G/E % TW LW OH Corn 67 67 45 Beans 65 66 47
6-10-26 Peace talks with Iran have seemingly failed and the President has threatened military action again. Equities dropped hard on the announcement as there appears to be no end in sight with this war. Traders stepped up and bought grains on the uncertainty with beans and wheat showing the largest gains. Weather forecasts remain largely favorable outside of few (smaller) areas that received too much rain over the past 48 hours. Traders have trimmed their net long positions over the past few weeks into a more manageable (seasonal) type number. This should hopefully help limit those severe/nasty multiday sale-offs that we just experienced. Bulls are resting their hopes on that 17 billion China demand that was promised. The June crop report will be released tomorrow at noon.
6-9-26 It was an uneventful day in the grain markets. Forecasts continue to show rain over the heart of the belt into June 20th. It’s hard to get bullish with rain, in June, on freshly planted crops. Some might start to argue that it’s too much, but markets rarely rally on too much moisture in June. Producer selling has been minimal on the decline which has helped basis improve as end users look to refill the pipeline. Wheat harvest is approaching fast with some early reports in the south showing some quality issues. Head scab is likely going to be a problem with the recent weather over the SRW areas. Updated harvest reports will be posted as they come in.
6-8-26 Markets are trying to stabilize after last week’s massive selloff. Corn and wheat are holding onto small gains while beans were off slightly. Grains are in oversold territory and are ripe for correction. Mother nature has so far been kind to the 2026 crop with plenty of moisture and good growing conditions for the Midwest. Updated planting (virtually finished) and crop condition ratings will be released tonight at 4pm. Until the something threatens the crop or demand changes bulls will have a hard time holding on.
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