Corn Morning Update

Corn Morning Update

GLOBEX Snapshot
Contract Last Net Change High Low Volume
ZCN19 427.5 -0.25 428.75 424 32741
ZCU19 435.5 -0.75 437.25 432.5 22073
ZCZ19 446.25 -0.75 448 442.75 19493
ZCH20 454.5 -1 456.5 451 1842

QT News - Top News
-- Traders Wednesday said some 65,000 mt of US or South American origin Corn was bought by Korea Feed Association in privately negotiated deals. They suggest prices were $205.70/mt cif. The grain is for shipment from late Sept to late October.
-- On Wednesday, grain trade sources say Taiwan based MFIG paid $0.89 over December CBOT futures for 65,000 mt of Brazilian origin Corn at a tender today.
-- Japan's Ag Ministry Wednesday said they bought 560 mt of feed grade Barley at their weekly SBS tender that closed today. They did not purchase any feed wheat at today's tender.
-- France AgriMer data Wednesday increased the 18/19 corn ending stockpiles forecast to 3.0 mln mt up +300,000 mt over the prior estimate; 18/19 barley ending stocks are seen at 1.5 mln mt off -100,000 mt from the previous outlook
-- While visiting ethanol plant in Iowa Tuesday, President Trump signed an executive order that will streamline the review process federal agencies have for agriculture biotechnology. The change could speed up the process for genetically modified seeds and livestock.
-- SovEcon analysts Tuesday increased their 2019 Corn harvest forecast to 12.2 mln mt up +400,000 mt over the prior outlook; they kept their 2019 barley production forecast steady in today's report at 20.0 mln mt.
-- Unica on Tuesday pegged 2019/20 Brazil center-south Ethanol production estimate at 2.14 billion liters in the last half of May, that is up +22% over the year earlier period.
-- Ukraine Ag Ministry Tuesday noted 2019 planted corn acres at 4.77 mln hectares, that is 2% higher than forecasts, and above the 4.68 mln ha planted in 2018.
-- Weekly EU data Tuesday showed +329,000 mt of Corn imports in the latest reporting period ending June 9, brings the 18/19 MY to date total 22.621 mln mt. For comparison the 17/18 MY imports were 16.552 mln mt.
-- Weekly EU data Tuesday showed +2,000 Barley exports in the latest reporting period ending June 9, brings the 18/19 MY to date total 4.192 mln mt. For comparison the 17/18 MY exports were 5.277 mln mt.

PENDING TENDERS
-- Pending Tender: State grain board of Turkey Monday announced tender to close on June 14th where they are seeking 100,000 mt of Corn
-- Pending Tender: Grain traders say Qatar has set June 16th as offer deadline in a tender seeking 105,000 mt of Barley.

-- Euronext Paris August corn futures Wednesday are trading -1.25 euros lower at 174.75 euros/mt
-- Dalian Sept corn futures Wednesday traded -6 yuan lower ending at 1,960 yuan/mt
-- Outside markets. Crude Oil off -$1.42 @ $51.85; Gold up +$8.20 @ $1339.40; Silver up +3.5c @ $14.775; US $ index up +4 pts @ 96.68


QT News Cash Markets
Bean Barge Corn Barge SRW Barge HRW Track Ill Riv Frt
12 pro 11 pro
Jun +54/60 N +60/65 N +90/97 N +168/175 N +128/140 N 450/???
Jly +46/53 N +47/50 N +80/85 N +165/172 N +120/130 N 440
Aug +40/46 Q +35/40 U +70/76 U +152/160 U +106/130 U 420

Hi-pro meal Soy oil
Chicago -35 N +10 N +20 N
Toledo -30 N +13 N +20 N
Dec ILL -22 N +10 N -18 N -00 N

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