Highlight of the day was the wheat market…crop doesn’t look good & the market is finally responded to it. EU wheat isn’t good, U.S. wheat has some struggles. Tension once again with China. Shifting away from planting & focus goes to weather & plant growth. Rains of the past few days will help out the crops with upcoming heat. Bean exports were small, but to China.
Getting a lot of questions about Hong Kong and the assessment & what will happen from that assessment. Will it affect Phase One? Brazil corn on what is being heard. Acre numbers & prevent plant…recent crop progress numbers, no big surprise. Are there some weather worries? Black Sea update with rains & damage. Livestock-where are we at on processing capacity? June cattle moves about the 100-day moving average for the first time in 4 months.
Looking at export numbers released today, weather front moving in bring some much-needed moisture to the western corn belt. Some trade friction with a return to demand. Mike had a report he did looking at China. Is there some retaliation coming from China to countries that question the COVID-19 start? Cattle on Feed report out on Friday. Grocery store with ground beef prices.
Corn received the short end of the spreads. Wheat has had some dry weather issues. The virtual wheat tour is under way in Kansas. How will that effect the way the market trades? Brazil has had some weather, is there a break headed their way in the drought. EU & Black Sea weather…what is the damage? Impact of the CARES act what will that mean for the markets. Update on African Swine Fever.
Green on the screen for a Friday in the grains. To keep in perspective, low commodity prices is taking its toll. Change in the week for corn, beans, wheat, cattle & hogs for the week. Demand & exports. Weather, ethanol working towards processing with DDG’s for livestock.
This weekend’s freeze, what does this mean for the Midwest? Weather in the Black Sea, Brazil sees less rain opportunities. What kind of summer do we suspect? Don’t forget next Tuesday’s WASDE report looking at the 20-21 marketing year. Cash cattle trade saw some .95 & then 1.10…that helped the limit up trade.
Nebraska Extension Agricultural Climatologist, Al Dutcher, breaks down this coming week’s weather forecast and suggests warmer weather is coming for much of the region.