June 18, 2018 | Global Ag News Highlights
USDA Agency Reports
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Grains are mixed. SU is up 1 sent and near 9.19. CU is down 2 cents and near 3.68. WU is down 6 cents and near 5.07. US Dollar is lower. Crude is lower. US stocks are lower.
Chicago soybean futures ticked higher on Monday as the market took a breather following last session's deep losses that dragged the market to a one-year low on escalating U.S.-China trade tensions. Wheat slid for a fourth consecutive session on pressure from a stronger U.S. dollar and fund selling. Trade concerns also weighed on the corn market as Mexico could strike at $4 billion in annual imports of U.S. corn and soybeans if Trump escalates a trade spat with new tariffs, officials told Reuters last week.
The U.S. Midwest weather forecast has mostly soaking rains this week, quiet for the weekend, and hit/miss showers the first half of next week; above average temps before cooling to the end of the week, weekend, and early next week.
The U.S. Southern Plains weather forecast has average to above average precip for Kansas and the panhandles over the next 10 days. Temps will be running above average.
Funds sold 16,000 soybeans, 6,000 soymeal, 7,000 soyoil, 6,000 corn and 3,000 wheat on Friday. Funds are estimated to be short 28,000 soybeans, long 76,000 soymeal, net short 80,000 soyoil, short 9,000 corn and short 1,000 wheat.
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