Written Commentary
AFTERNOON COMMENTS
The Drought Monitor Map is looking nearly blank for the major growing ares. Northern North Dakota, parts of Nebraska and pieces of Illinois and Indiana are barely dry.
The Next 10 Days of Precip:
EIA Weekly Ethanol Production And Corn Usage
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EIA Weekly Ethanol Stocks
Ethanol Stocks are historically high for this time of year and the highest in 6 weeks at 24.7M barrels. There is chatter that the reason for higher than normal stocks is the sellers are holding on to more while anticipating an improvement to exports soon.
Weekly Export Sales
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Daily Trading Limits: Corn $0.35 (expanded $0.55); Soybeans $0.75 (expanded $1.15); Minneapolis Wheat $0.60 (expanded $0.90); KC Wheat $0.40 (expanded $0.60); Chicago Wheat $0.40 (expanded $0.60)
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