DTN Wheat News

FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Wed, June 16 Exchange rate was 1.2272 up 0.0096 Chicago soybeans closed moderately lower. NOV21 HI 13.81 1/4 NOV21 HI 13.81 1/4 LOW 13.38 1/2 LOW 13.38 1/2 CLOSE13.43 1/4 Down 30 1/4 CLOSE 13.43 1/4 Down 30 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt ELEVATORS +NOV21+NOV21+NOV21 CK Low 3.80 17.23 633.19 2.59 16.02 588.73 CK High 3.85 17.28 635.02 2.65 16.08 590.93 CK Average 3.83 0.63 17.26 634.14 2.61 -0.36 16.04 589.34 Essex Cty 3.85 17.28 635.02 2.55 15.98 587.26 Mdsx Low 3.80 17.23 633.19 2.57 16.00 587.99 Mdsx High 3.81 17.24 633.55 2.60 16.03 589.09 Mdsx Average3.81 0.61 17.24 633.37 2.59 -0.38 16.02 588.54 Hensall 3.83 17.27 634.41 2.60 16.03 589.09 Bruce 3.90 17.33 636.86 2.65 16.08 590.93 Putnam 3.80 17.23 633.19 2.60 16.03 589.09 Burford 3.88 17.31 636.13 2.64 16.07 590.56 Port Perry 3.83 17.26 634.29 2.59 16.02 588.73 Norfolk 3.85 17.28 635.02 2.60 16.03 589.09 Palmerston 4.29 17.72 651.19 2.64 16.07 590.56 Varna 3.85 17.28 635.02 2.60 16.03 589.09 Trenton 3.80 17.23 633.19 2.60 16.03 589.09 Winchester N/A 2.65 16.08 590.93 North Gower 4.53 17.96 660.01 2.60 16.03 589.09 Vankleek Hil4.71 18.14 666.62 2.72 16.15 593.50 Huron FOB 3.71 3.95 3.95 N/A 17.14 629.88 2.65 16.08 590.93 Kent FOB 3.95 17.38 638.70 2.60 16.03 589.09 Lambton FOB N/A 2.65 16.08 590.93 Mdsx FOB 3.83 4.07 N/A N/A 17.26 634.29 2.65 16.08 590.93 PROCESSORS Windsor N/A 2.75 16.18 594.61 TRANSFER Hamilton 4.30 17.73 651.56 3.05 16.48 605.63 Prescott N/A 2.84 16.27 597.91 Port Colborn3.46 16.89 620.69 3.04 16.47 605.26 Toledo El. 1.47 14.91 547.67 -0.43 13.00 477.78 Exchange rate was 1.2272 up 0.0096 Chicago wheat closed narrowly mixed. JUL21 HI 6.72 3/4 JUL21 HI 6.72 3/4 LOW 6.58 3/4 LOW 6.58 3/4 CLOSE 6.62 3/4 Up 1 1/4 CLOSE 6.62 3/4 Up 1 1/4 Minni wheat closed moderately higher. JUL21 HI 7.72 1/2 SEP21 HI 7.78 1/4 LOW 7.50 LOW 7.57 1/4 CLOSE 7.60 1/4 Up 12 1/2 CLOSE 7.66 1/2 Up 11 1/4 Direct MarkHarvest 2020 Harvest 2021 DELIVERED BASIS DELIVERED BASIS Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M) ELEVATORS Brgssvll N/A N/A N/A N/A N/A N/A 0.90 N/A London 1.68 1.68 1.62 N/A 1.24 1.12 0.94 N/A Hensall N/A N/A N/A N/A 1.20 N/A 0.90 N/A Trenton N/A N/A N/A N/A N/A N/A 0.90 N/A Bruce 1.65 1.70 1.65 1.30 1.20 1.15 0.95 1.30 Essex N/A N/A 1.60 N/A N/A N/A 0.90 N/A Norwich N/A N/A N/A N/A 1.20 N/A 0.90 N/A Port Hope N/A N/A N/A N/A N/A N/A 0.90 N/A Kent Bridge N/A N/A N/A N/A 1.20 N/A 0.90 N/A Chatham N/A N/A 1.60 N/A N/A N/A 0.90 N/A Brigden N/A N/A 1.60 N/A N/A N/A 0.90 N/A Palmerston N/A N/A 1.92 1.88 N/A 1.22 0.97 1.47 Varna 1.80 1.80 1.80 N/A 1.10 1.10 0.90 N/A Mitchell N/A N/A N/A N/A 1.20 1.10 0.90 N/A Thornton 1.68 1.68 1.62 0.94 1.24 1.12 0.94 N/A North Gower N/A 1.27 1.55 0.96 N/A 0.91 0.93 0.84 W O Feed 2.72 TERMINAL Port Colbor N/A N/A 2.00 N/A N/A N/A 1.38 N/A PROCESSORS Toledo FM N/A N/A 1.69 N/A N/A N/A 1.69 N/A Toledo El. 6.73US 8.26CA 6.73US 8.26CA (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS FOB Hm Soymeal 513.91 DDG's FOB Srn & Aylm 260.00 - 320.00

DTN Closing Grain Comments 06/16 14:12 Grains Mixed as Soybean Oil Heads South November soybeans fell 30 1/4 cents lower Wednesday, pulled down by a 3.50-cent limit drop in July soybean oil and ongoing concerns the White House may ease biofuels mandates. September Minneapolis wheat closed up 11 1/4 cents, supported by a lack of rain in the seven-day forecast for spring wheat areas. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: July corn closed up 5 1/2 cents and December corn was down 1 1/4 cents. July soybeans closed down 17 1/4 cents and November soybeans were down 30 1/4 cents. July KC wheat closed down 2 cents, July Chicago wheat was up 1 1/4 cents and September Minneapolis wheat was up 11 1/4 cents. The September U.S. Dollar Index is trading up 0.52 at 91.03. The Dow Jones Industrial Average is down 278.67 points at 34,020.66. August gold is down $19.20 at $1,837.20, July silver is down $0.26 at $27.44 and July copper is down $0.0185. July crude oil is down $0.25 at $71.87, July heating oil is down $0.0131, July RBOB gasoline is down $0.0220 and July natural gas is up $0.012.

DTN Midday Grain Comments 06/16 10:45 Corn Higher, Soybeans Lower Midday Wednesday Corn is 16 to 18 cents higher on the front month, 7 to 9 cents higher on new crop; soybeans are 9 to 11 cents lower with flat spreads, and wheat is 6 to 18 cents higher. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: The U.S. stock market is mixed with the Dow down 17 points. The U.S. Dollar Index is narrowly mixed. Interest rate products are firmer. Energies are firmer with crude up $0.70. Livestock trade is mixed with cattle leading and hogs limit lower. Precious metals are firmer with gold up $2.60. CORN: Corn trade is 16 to 18 cents higher on the front months with new crop 7 to 9 cents higher and short covering this morning as the forecast is shifting a bit drier, and strong spread action boosting trade. Ethanol margins are seeing pressure from corn values along with weekly production dropping 42,000 barrels per day, while stocks were 620,000 higher, easing tightness. USDA announced 153,416 metric tons of new crop sold to unknown. Brazil weather looks mostly unchanged short term as the crop advances towards harvest with some late rains while U.S. weather will be watched for consistency in the second week forecast, while heat will be the rule of many the next few days. Corn basis should remain flat to weaker near term with more attention going to new crop. On the July contract, trade is back above the 20-day at $6.65 with the late strength Tuesday holding, with the upper Bollinger Band at $7.06 as resistance. SOYBEANS: Soybeans are 9 to 11 cents lower up front with flat spread action, and wide ranges continuing. Meal is $8.00 to $9.00 higher and oil is 2.70 cents to 3.10 cents lower with the soy oil liquidation picking up again while meal tries to come off the recent lows. The weather pattern should allow for short-term stress to give way to rains in the center of the belt. South America should continue to see shipping progress short term, with U.S. basis soft with processors and exporters softening bids recently. On the July soybean chart, support is the fresh low at $14.50, with the lower Bollinger Band resistance at $14.62, which we have tested Wednesday morning but failed to hold. WHEAT: Wheat trade is 6 to 18 cents higher with spring wheat leading so far as the rains shift east. The dollar is attempting to consolidate at over 90 points on the index, which will work to limit upside if sustained with more consistent action this week. Warmer weather this week should help to bring winter wheat along after the slowdown last week with early harvest getting underway on the far Southern Plains. Other Northern Hemisphere weather will continue to be watched as well with little fresh news on the front with Russia mostly OK for now. KC continues at a 52-cent discount to Chicago widening a bit, with Minneapolis at a 92-cent premium. KC July on the chart has resistance the 20-day at $6.25 with support at the lower Bollinger Band at $6.01. David Fiala can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala (c) Copyright 2021 DTN, LLC. All rights reserved.

DTN Weather Trend Indicators 06/16 09:32 Weather Indicator status values are: Corn=Neutral Soybeans=Neutral Wheat=Neutral LEGEND: The indicator choices are: Corn, Soybeans, Wheat The status choices are: Up, Down, Neutral For example: Corn=Neutral

DTN Early Word Grains 06/16 05:55 Grain Weakness Continues Amid Forecast July corn is down 1 3/4 cents per bushel, July soybeans are down 15 cents, and July KC wheat is down 2 1/2 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: July corn is down 1 3/4 cents per bushel, July soybeans are down 15 cents, and July KC wheat is down 2 1/2 cents. CME Globex Recap: Mixed to weaker equity markets overnight with U.S. futures slightly lower Wednesday morning. The conclusion of the two-day FOMC meeting is the big event on the docket today. It was reported yesterday the White House has indicated bipartisan infrastructure talks should only take 7-10 days which could mean passage or failure in the House of Representatives by the Fourth of July. Energy markets are mixed with crude firmer but products weaker. The U.S. Dollar Index is slightly weaker, remaining below its 50-day moving average. Precious metals are firmer overnight. Grain markets are mostly weaker overnight, led by the soy complex and especially soybean oil after stable to higher trade at the overnight open was ceded. Grain markets are firmly inside a weather market, making volatility a certainty the next couple weeks. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 94.42 at 34,299.33 and the S&P 500 down 8.56 at 4,255.15 while the 10-Year Treasury yield ended at 1.499%. Early Wednesday, the June DJIA futures are down 74 points. Asian markets are lower with Japan's Nikkei 225 down 150.29 (-0.51%) and China's Shanghai Composite down 38.23 points (-1.07%). European markets are mixed with London's FTSE 100 up 8.08 points (0.11%), Germany's DAX down 36.08 points (-0.23%) and France's CAC 40 up 3.1 points (0.05%). The September Euro is down 0.000 at 1.210 and the September U.S. dollar index is down 0.037 at 90.465. The September 30-Year T-Bond is up 1/32nds, while August gold is up $3.70 at $1,860.10 and July crude oil is up $0.11 at $72.23. Soybeans on China's Dalian Exchange were down -0.76% while soybean meal was down -0.21% and corn was down -0.37%. Malaysian palm oil settled down -4.61%.

Powered by DTN