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DTN Closing Grain Comments 06/12 14:09
Grains Mixed Following June WASDE Report
The June World Agricultural Supply and Demand Estimates (WASDE) report from
USDA came in mostly as expected Thursday, with very few overall changes to the
corn and soybean balance sheets both in the U.S. and the world. Wheat garnered
most of the attention from USDA, reaffirming forecasts for very strong winter
wheat production in the U.S. and the world. In outside markets for Thursday,
equity markets were cautiously higher amid this week's positive trade news
regarding China but perhaps a little anxious regarding the upcoming July 8
deadline for the 90-day tariff pause as well, with many deals still on the
table according to the White House. Energy markets pushed higher with NYMEX
crude oil futures recovering more of the April 3 losses amid tensions between
Israel and Iran and Wednesday's stock decline reported by the Energy
Information Administration.
Rhett Montgomery
DTN Lead Analyst
GENERAL COMMENTS:
July corn closed up 1 1/2 cents and December corn was up 3/4 cents. July
soybeans closed down 8 1/4 cents and November soybeans were down 2 cents. July
KC wheat closed down 3 1/2 cents, July Chicago wheat was down 7 3/4 cents, July
MIAX Minneapolis wheat was up 4 cents.
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