Gary's Blog 06/21/21 3:07:56 PM|
Crop condition G/E
TW LW AVG OH
Corn 65% 68% 69% 76%
Beans 60% 62% 67% 72%
Weekend rains were spotty creating mixed market action on the CBOT. The initial response was lower as traders began the week, but soybeans were able to claw back into the green. Corn and wheat also finished well off session lows as rain totals began being reported in midmorning wires. The current weather pattern has created clear winners and losers so far which can be seen in the crop conditions report. (G/E numbers by state) We anticipate another volatile week on the exchange as the weather forecasters try to pin down the next big system. July options expire this week and FDN is right around the corner. Look for update crop ratings at the top of the blog after 4pm.