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DTN Midday Grain Comments 06/26 11:07

26 Jun 2019
DTN Midday Grain Comments 06/26 11:07 Grains Mixed at Midday Trade has faded back to mixed action at midday. By David Fiala DTN Contributing Analyst General Comments The U.S. stock market indices are firmer with the Dow 50 higher. The dollar index is 8 lower. Interest rate products are firmer. Energies are firmer with crude 1.65 higher. Livestock trade is mostly higher led by feeder cattle. Precious metals are weaker with gold 3.90 lower. CORN Corn trade is 1 to 3 cents lower at midday with trade remaining rangebound as we draw closer to the report on Friday. The forecast looks to trend towards warmer and drier into July which will be needed to boost growth. The weekly ethanol report showed production off by 9,000 barrels per day, and stocks down 48,000 barrels. Corn basis remains on a firmer trend, especially for the Eastern Belt. Looking ahead to the report on Friday expectations are for 86.62 million acres of corn on a range of 82 million to 89.8 million vs, 92.79 million in March, with stocks at 5.35 billion on a range of 5.174 to 5.90 billion, with full prevent plant not expected to be incorporated until August. On the July nearby chart support is the 10-day at $4.47 which we are test at midday, with the 20-day at $4.35 below there. Resistance is the upper Bollinger Band at $4.61. SOYBEANS Soybean trade is 2 to 4 cents lower with range bound trade continuing with little fresh news today. Meal is 1.50 to $2.50 lower and oil is narrowly mixed. Crush margins remain solidly positive overall with meal regaining the lead to start the week and oil leading today. World export demand remains slow, with the real remaining near the upper end of the range but still cheap vs. the dollar, but the USDA did announce 145,000 metric tons of old crop sold to unknown. Field work will likely be slowed again in many areas with days now getting shorter for soybean growth. The report is expected to show soybean acres as 84.35 million on a range of 81 million to 86.5 million. Stocks are expected to be 1.861 billion bushels on a range of 1.7 billion to 1.962 billion. The July chart support is the 100-day at $8.93 with the 200-day above the market at 9.07 which we failed to hold. WHEAT Wheat trade is 3 to 8 cents higher at with harvest for winter wheat expected to expand more towards the weekend with delays still in place today. The Kansas City/Chicago spread has widened to new records again this a.m. The warmer weather should get combines moving more in the short term with above 90 degrees expected for the Plains. The dollar is below 96 on the index with the slide arrested for now. Black Sea area weather remains mixed with world values soft and short term heat in place. Hard red wheat is working into feed rations in some areas with the bounce in corn values, and reduced quality may increase feeding on that front. On the report, wheat acres are expected to be 45.65 million acres on a range of 44.5 million to 46.10 million, and stocks at 1.10 billion with a range of 1.077 billion vs. 1.16 billion bushels. On the July Kansas City chart, support is the 10-day and 20-day at $4.63-4.64, at which we are tested this morning with more support at the lower Bollinger band at 4.43, and resistance the recent high at $4.73. David Fiala is a DTN contributing analyst and the President of FuturesOne and a registered adviser He can be reached at Follow him on Twitter @davidfiala (BAS) Copyright 2019 DTN/The Progressive Farmer. All rights reserved.
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USDA Farm Bill Implementation Progress Update

26 Jun 2019
(Washington, D.C., June 26, 2019) — U.S. Secretary of Agriculture Sonny Perdue today announced an update on the implementation status of the 2018 Farm Bill. President Trump signed this Farm Bill into law on December 20, 2018, and the U.S. Department of Agriculture (USDA) promptly began implementing key programs. In addition, USDA held several liste...

USDA Invests in Rural Water and Wastewater Infrastructure in 29 States

26 Jun 2019
FORT LAUDERDALE, FLA., June 26, 2019 – Acting Assistant to the Secretary for Rural Development Joel Baxley today announced that USDA is investing $192 million in 71 projects located across 29 states to improve rural water infrastructure (PDF, 201 KB).

DTN Cattle Prices/Trends 06/26 11:25

26 Jun 2019
DTN CATTLE PRICES/TRENDS 06/26 11:25 HEAD SOLD LIVE STEERS DRESSED LIVE HEIFERS DRESSED KANSAS . . . . . NEBRASKA . *107.00(BID) *174-175(BID) *107.00(BID) *174-175(BID) TEXAS . *107.00(BID) . *107.00(BID) . COLORADO . . . . . IOWA . . . . . *PRIVATE SOURCES DTN COMMENTS: Still just a few token bids on the table at midday, with the current board ac...

DTN Weather Trend Indicators 06/26 08:28

26 Jun 2019
GRAIN BELT WX ROUNDUP Ohio Morning Temperature And Precipitation Summary National Weather Service Cleveland Ohio 849 AM EDT Wed Jun 26 2019 Values represent highs yesterday...lows over the last 12 hours and precipitation over the last 24 hours ending at 7 AM EST/8 AM EDT. M=Missing Data T=Trace NA=Not Available : .BR CLE 0626 ES DH00/TAIRZX/DH07/TA...
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