Weather should be the motive for the start of the week. Rains were more localized across the central Midwest over the weekend, IMO, and further south than expected (but needed). Heat about to dominate the Midwest and upper Midwest, and upper Midwest & WCB should see restricted rains. US crop conditions are projected to decline from the previous week, and we are looking at yields for soybeans and corn to now end up below USDA’s May-July estimates, for the first survey due out second week of Aug. Europe’s weather slightly improved over the weekend, but France & Germany spring crop conditions are expected to decline again when updated. Ukraine grain shipments will begin to flow over the next week, limiting upside in wheat prices.
Calls
Soybeans 7-10 higher
Meal $1-3 higher
SBO 25-75 higher
Corn 3-5 higher
Wheat 7-10 higher bias KC and Chicago to upside
Last 24-H
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions. Futures International, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.