farm focus - hfpaginfo.com · farm focus wednesday june 17, 2020 call dan cowger at 866-438-1065 or...
TRANSCRIPT
Today’s Prices
Grains: Price Change
Corn - July 2020 3.30 0.01
Corn - December 2020 3.43 0.00
Soybeans - July 2020 8.71 0.04
Soybeans - November 2020 8.77 0.04
KC Wheat - July 2020 4.33 (0.06)
Mpls Wheat - July 2020 5.20 0.05
Outside Markets: Price Change
Crude Oil - July 2020 37.87 (0.51)
Ethanol - July 2020 1.25 0.05
Gold - July 2020 1,730 (1.80)
U.S. Dollar Index 97.11 0.18
Dow Jones Industrials 26,324 34
Live Cattle - August 2020 96.85 0.08
Feeder Cattle - August 2020 133.58 0.70
Lean Hogs - August 2020 53.18 0.15
Grain Market News
• Grain prices closed mixed with corn and beans well off the morning lows.
• Soybeans found support on talk that China is buying and looking for beans.
• Corn was 4 cents lower this morning, but fund buying pushed corn higher.
• Outside market news and markets were quiet today.
• There seems to be fresh concerns about a 2nd round of the coronavirus.
• In Beijing China they are cancelling airline flights and closing schools.
• Over the last 4-5 days, China has reported 40-60 new coronavirus cases daily.
• This compares to 5,00-15,000 new daily cases in late January and early Feb.
• Ethanol production increased for the 7th week in a row.
• Stocks of fuel ethanol dropped for the 8th week in a row.
• Economics for the ethanol industry have improved dramatically since April.
Weekly Ethanol Production
Weekly Stocks of Fuel Ethanol
Grain Market News
• Weather is likely to be the primary driver of grain prices for two weeks.
• In two weeks, on June 30th we will get USDA’s Prospective Planting and
Quarterly Grain Stocks reports.
• The current weather is hot-dry and windy. Crops are likely experiencing some
stress in the driest areas.
• The forecast looks quite good with much better rain chances and cooler
temperatures into the end of June.
• The current conditions have dried out the topsoil in many areas.
• This makes the rains that are in the forecast very important in preventing crop
conditions from slipping lower.
High Temperatures: 6-16-20
7-Day Observed Precipitation
7-Day Precipitation Forecast
6-10 and 8-14 Day Forecast
7-Day Precipitation Forecast
Corn Chart
Soybean Chart
Wheat Chart
