Silver's Comments 
E-mail: Michael J. Silver
Check the KG location bids at:



Thursday June 8, 2017  


TODAY'S MARKET BULLETS

Funds were BUYERS again today as remain nervous about
their short positions given the heating up and dry weather forecasts.
Funds bought 16,000 contracts of corn, 8,000 bean contracts and
7,000 SRW wheat contracts.
 
 
 
 

Monday's USDA Crop Progress and Condition reports documented

the race to complete “planting 2017.” 

 

See the complete report at:

Latest Releases:

Crop Progress, 06.05.2017 [pdf]

Crop Progress, 06.05.2017 [txt]

Crop Progress, 06.05.2017 [zip]

 

Keep an eye on the NWS 6-10 day and 7-14 day weather forecasts. Click the link below:

Hoosier Ag Today Launches Planting Forecast Program

Co-sponsored by Kokomo Grain, you can can sign up to receive this free, weekly
planting forecast at
www.hoosieragtoday.com


 
Dow Jones Industrial Average

 

Futures Closes 

 

6/8/2017

 

Commodity        

Symbol

Close

Change

 

 

 

 

 

 

 

 

July 17 Corn

CN17

385 3/4

1.00

Dec 17 Corn

CZ17

403 3/4

1.25

 

 

 

 

July 17 Beans

SN17

938   

7.25

Nov 17 Beans

SX17

943 3/4

8.00

SOYBEAN/CORN '17

SX17/CZ17

2.34

0.01

 

 

 

 

July 17 Wheat

WN17

449 1/4

4.50

US Dollar Index      

DX

96.94

0.227

Crude Oil

CLG17

45.67

-0.05

Ethanol - July

AC

1.54

-0.0240

 

 

 

 

Today vs Last Friday Close

Today

Last Friday

Change

July17  Corn

385 3/4

372 3/4

13.00

Dec 17 Corn

403 3/4

391   

12.75

 

 

 

 

 July 17 Beans

938   

921 1/4

16.75

Nov 17 Beans

943 3/4

925   

18.75

 

 

 

 

 

 

 

 

July 17  Wheat   

449 1/4

429 1/2

19.75

 

USDA will release the June Crop Production and WASDE reports
Friday June 9 at NOON (eastern time.)  Following is a convenience
table with average trade estimates.
 
 

 

2017 U.S. Wheat Production (in billion bushels)

 

 

USDA June 2017

Average Trade Est.

INTL FCS Estimate

Range of Trade Est.

USDA May 2017

All Wheat

 

1.815

1.833

1.795-1.833

1.820

Winter

 

1.239

1.292

1.207-1.292

1.246

HRWW

 

0.731

0.783

0.704-0.783

0.737

SRWW

 

0.295

0.292

0.290-0.300

0.297

White

 

0.214

0.217

0.208-0.222

0.212

 

South America Production 2016/17 (in million tonnes)

 

 

USDA June 2017

Average Trade Est.

INTL FCS Estimate

Range of Trade Est.

USDA May 2017

ARG Corn

 

40.29

40.30

40.00-42.00

40.00

ARG Soy

 

57.40

58.20

56.90-58.20

57.00

BRZ Corn

 

96.48

97.63

96.00-98.00

96.00

BRZ Soy

 

112.24

113.20

111.60-113.20

111.60

 

USDA 2016/17 U.S. Carryout (in billion bushels)

 

 

USDA June 2017

Average Trade Est.

INTL FCS Estimate

Range of Trade Est.

USDA May 2017

Corn

 

2.287

2.360

2.215-2.360

2.295

Soybeans

 

0.433

0.411

0.400-0.458

0.435

Wheat

 

1.161

1.177

1.144-1.200

1.159

 

USDA 2017/18 U.S. Carryout (in billion bushels)

 

 

USDA June 2017

Average Trade Est. 

INTL FCS Estimate

Range of Trade Est.

USDA May 2017

Corn

 

2.085

2.033

1.985-2.200

2.110

Soybeans

 

0.485

0.467

0.435-0.612

0.480

Wheat

 

0.911

0.860

0.860-0.995

0.914

 

Global 2016/17 Carryout (in million tonnes)

 

 

USDA June 2017

Average Trade Est.

INTL Estimate 

Range of Trade Est.

USDA May 2017

Corn

 

224.00

226.80

221.50-226.80

223.90

Soybeans

 

90.79

92.35

90.14-92.35

90.14

Wheat

 

255.24

256.10

253.30-256.10

255.35

 

 

 

Global 2017/18 Carryout (in million tonnes)

 

 

USDA June 2017

Average Trade Est.

INTL FCS Estimate

Range of Trade Est.

USDA May 2017

Corn

 

195.48

197.25

193.40-197.25

195.27

Soybeans

 

89.44

90.70

88.80-90.70

88.81

Wheat

 

257.77

256.70

254.80-260.00

258.29

 

Read Dr. Cordonnier’s Comments at:

www.soybeansandcorn.com


For you to bookmark and visit (click the links):

USDA Office of the Chief Meteorologist
Weather and Climate
Weather is one of the key factors affecting prospects for crop production and commodity prices. In 1978 the World Board and the National Oceanic and Atmospheric Administration formed the Joint Agricultural Weather Facility (JAWF). Housed at USDA, JAWF monitors the weather and assesses its likely impact on crops around the world. Regular briefings by Board experts are an important information source for USDA commodity forecasters as well as for the Secretary of Agriculture and other top officials at the Department.

Take a few minutes to review the following (click the hyperlink):

Prospective Plantings Grain Stocks Rice Stocks
Executive Summary
Lance Honig, Chief Crops Branch, USDA

https://www.nass.usda.gov/Newsroom/Executive_Briefings/2017/03_31_2017.pdf

 

 

COMMITTMENTS OF TRADERS REPORT (COT ) - FUND POSITION
DATE                          CORN       SOYBEANS        WHEAT


Table reflects NET position (# contracts) futures only.

 

6/7/2016

223,583

181,099

-58,366

6/14/2016

268,412

178,226

-55,130

6/21/2016

216,371

175,455

-77,461

6/28/2016

168,232

166,603

-84,974

7/5/2016

86,050

142,037

-106,232

7/12/2016

-5,886

128,813

-118,340

7/19/2016

-29,758

113,276

-121,448

7/26/2016

-67,571

109,696

-131,142

8/2/2016

-106,786

97,021

-130,471

8/9/2016

-141,495

99,425

-120,312

8/16/2016

-165,109

88,510

-106,956

8/23/2016

-158,486

113,446

-105,933

8/30/2016

-174,489

93,264

-123,338

9/6/2016

-186,127

77,299

-137,451

9/13/2016

-151,547

72,886

-129,643

9/20/2016

-156,033

86,782

-130,562

9/27/2016

-177,733

54,612

-134,573

10/4/2016

-153,096

61,991

-155,196

10/11/2016

-121,914

68,798

-137,243

10/18/2016

-51,986

88,272

-100,865

10/25/2016

-60,646

99,466

-124,421

11/1/2016

-52,761

111,808

-108,578

11/8/2016

-13,478

125,121

-110,926

11/15/2016

-74,300

96,753

-131,867

11/22/2016

-45,638

115,644

-111,108

11/29/2016

-65,111

137,371

-121,929

12/6/2016

-65,428

124,758

-124,098

12/13/2016

-69,050

121,859

-102,068

12/20/2016

-95,526

111,993

-113,534

12/27/2016

-109,602

107,293

-119,665

1/3/2017

-94,034

98,254

-114,619

1/10/2017

-77,478

99,748

-96,583

1/17/2017

-53,768

137,221

-97,245

1/24/2017

17,760

186,103

-100,372

1/31/2017

4,828

159,467

-107,726

2/7/2017

31,089

156,306

-91,818

2/14/2017

97,199

174,701

-48,122

2/21/2017

106,758

161,595

-37,551

2/28/2017

87,567

129,690

-59,233

3/7/2017

87,020

124,065

-65,521

3/14/2017

-27,352

93,544

-110,092

3/21/2017

-84,118

60,639

-133,166

3/28/2017

-151,798

36,798

-144,878

4/4/2017

-141,759

-4,358

-147,121

4/11/2017

-147,243

-33,963

-140,835

4/18/2017

-160,377

-49,190

-154,345

4/25/2017

-180,360

-52,475

-171,269

5/2/2017

-170,603

-51,483

-123,214

5/9/2017

-203,976

-38,353

-113,819

5/16/2017

-200,695

-39,312

-130,695

5/23/2017

-173,188

-69,775

-120,701

5/30/2017

-198,114

-93,790

-121,605

Wkly Change

-24,926

-24,015

-904

Record +

409,444

240,937

73,662

Record -

-236,201

-93,790

-171,269

Est Today

-136,114

-74,790

-110,605

Change

+16,000

+8,000

+7,000

 


Each Thursday I do  market analysis for Hoosier AgToday (HAT) that is podcast and excerpted
for airing in HAT segments on broadcast radio across Indiana.

You can find that audio on the HAT daily podcast or podcast player. The direct link is
http://www.hoosieragtoday.com/podcastplayer2.html.


Kokomo Grain Cash Grain Prices
http://www.kokomograin.com/index.cfm?show=11&mid=16


CROP INSURANCE CORNER
 

Spring prices for crop insurance were determined during

the month of February. 

RMA “official” spring crop insurance prices are:
                             Spring Price         Volatility factor

Corn                         3.96 /bu                       0.19

Soybeans              10.19 /bu                        0.16

Popcorn                0.1703 / #                        0.19

 

 

Ag Economy Barometer Widget



Follow me on Twitter @MikeSilverSr 

USDA WASDE Supply/Demand

http://www.agmanager.info/marketing/outlook/wasde/

For additional Market News and Information
www.AgriMoney.com

http://farmdocdaily.illinois.edu/

 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN