This week’s action:  

Corn Sep up 70 at $5.94

Beans Sep up 1.59 at $13.55

Fats August down -17c at $171.75

Feeders August down 4.575 at $234.50

Hogs June up 6.35 at $90.55


Corn Dec23 up 67 at $5.97

Beans Nov23 up 1.38 at $13.40

KC Wheat July up 41 at $8.41


Corn Dec24 up 37 at $5.41

Beans Nov24 up 75 at $12.38


Market Recap:

Corn futures extended the rally into the 3-day weekend with another 2.7% to 4.2% gains on Friday. July futures ended the week just 3/4 of a cent from their high – which was the highest mark since February. The December contract ended with a 67 cent gain for the week, but stayed just under the $6 mark. Dec corn has been below $6 since January.

The inflow of open interest for Nov beans was 30k contracts or 11% from Friday through Thursday’s settle. Friday’s session ended with front month gains of as much as 50c, which left Nov at a $1.38 gain for the week. Soymeal futures were 5.9% higher on the day, leaving July at a $19.20 gain for the week’s move. Soy oil prices closed 2.4% higher on the day, and 510 points higher for the week.

Row crop main focus will continue to be on weather and crop conditions as we navigate a worsening week over week drought monitor.

The Commitment of Traders report showed a strong week of buying across the major agriculture markets last week. Funds covered all their net short positions and were net long 2,200 contracts after buying nearly 47,000 contracts last week. Funds were also buyers of 34,000 contracts in soybeans, 27,000 contracts in soybean oil and 12,000 contracts in hots. Funds were also buyers in Chi wheat, live cattle, and feeder cattle. Across the 10 major ag markets, funds bought 125,000 contracts for a modest net long position of 137,000. Funds were net long in 7 markets and net short in CH and Mn wheat and still held a small net short in the hog market.



Weekend rain IA/Delta but 2/3 of corn belt still significantly short of moisture. The 6-10 day showers focus on N & E 1/3 of Midwest and SW in the 11-15 day. Despite shifting showers next 2 weeks, 40% of Midwest still short of moisture. Low/mid 90’s in W Midwest this week, C. Midwest next weekend, then milder.


On Wall St., the Dow eased 17 points lower to 34,390. Total gains for last week totaled roughly 2%, and the Dow has finished higher for three consecutive weeks. Energy futures made solid inroads on Friday, with crude oil rising more than 1.5% to $71 per barrel. Diesel jumped more than 2% higher, with gasoline up around 1.75%. The U.S. Dollar firmed slightly.

Something that probably means nothing:

A new study by two Creighton University economic professors estimates the College World Series generates more than $88 million for Omaha alone. CWS kicked off Friday, June 16 and will continue through this weekend, with the Finals taking place June 24-26th.


“We don’t have to be smarter than the rest. We have to be more disciplined than the rest.” – Warren Buffet