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July 7th- Midday Market Commentary

07/07/2021
July 7th- Midday Market Commentary

Grains are trying to recover at midday:

Sept Corn – 4 3/4 cents/bu (5.47 1/4)

Dec Corn -5 3/4 cents/bu (5.34)

Nov Soybeans + 29 1/2 cents/bu (13.34 1/2)

Sept Chi Wheat + 1 3/4 cents/bu (6.27 3/4)

Cdn $ -0.00075 (80.165 cents)

WTI Crude Oil -1.42/barrel (71.95)

No reports are out today due to Monday’s holiday delaying report releases by a day.

Yesterday’s USDA Crop Progress Report showed a 1% drop in soybean good/excellent ratings and a 3 % drop in spring wheat good/excellent ratings, which is lending support to prices this morning. Corn conditions stayed the same good/excellent from last week at 64%. 

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