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Good Morning: The markets are on the defensive for the 2nd day in a row as the weather models agree that a drying trend evolves next week. World wheat values continues to slide, pulling Chicago futures lower. Trade talks with China are expected to resume late next week during the G20 Summit meeting in Japan although expectations of an near-term agreement are low at this point. The active weather pattern will continue through the rest of this week and weekend and into the beginning of next week before the jet stream finally pushes northward. Warmer and drier weather is expected to evolve as ridging moves across the Midwest, bringing a much-needed drying trend for the eastern belt. Temperatures are expected to rise above normal as we go through next week although none of the heat is expected to be excessive. The average trade estimate for Friday’s Cattle on Feed report has the number of cattle on feed as of June1st at 101.3% of a year ago. Placements in May are pegged at 95.9% and marketed in May is estimated at 100.8% of a year ago. China's Ministry of Commerce said it will maintain anti-dumping and anti-subsidy tariffs on imports of US DDGs, after closing a review launched in April. The ministry cited potential damage to domestic producers in its decision to retain anti-dumping duties of 42.2%-53.7% and anti-subsidy tariffs of 11.2%-12% on DDGS products from the US The CME Group said that force majeure is no longer in effect at Chicago Board of Trade corn and soybean shipping stations on the Illinois River and Mississippi rivers. All locks on the upper Mississippi River have reopened, with water levels in St. Louis expected to fall below the 38-foot trigger for clearance on Friday. The FOMC will deliver its interest-rate decision and economic projections at the end of today’s meeting. Federal Reserve Chairman Jerome Powell will hold a press conference shortly after. Most economist are not expecting the FOMC to reduce rates but rather set the stage for the possibility of a rate cut in the future. Have a great day! Wayne Kollis - Melissa Peters - Mike Rosenberg - Matt Zeman - Austin Behrendsen
Thu 6/20
Fri 6/21
Sat 6/22
Sun 6/23
Mon 6/24
High
73 F
76 F
77 F
78 F
Low
59 F
61 F
63 F
60 F
Precip
80%
59%
30%
Cooperative Farmers Elevator (CFE) has joined the Land O’Lakes SUSTAIN™ agricultural retailer network, giving CFE’s farmers access to tools and resources that support...
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Consider us your feed and livestock experts. Our feed blends and high-quality ingredients are FDA and HACCP certified. We can soruce nearly any type of ingredient for custom feed needs and prepare best-cost finished feed formulations based on nutritional specifications. Every ingredient is tested before sale, and we retain the data so our customers can view it upon request.
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