AgMaster Report – 06/11/2025

JULY BEAN

Off the strength of the London tariff-talks & tightening supplies, July Beans have fought off bearish weather to close higher 6 consecutive days in a row – while hovering in a 40 cent trading range since early April! Even without China, export inspections are running 11% over 2024! The crop is 90% in (88) & rated 68% good-to-excellent! The u JUNE upcoming Thursday WASDE REPORT is predicted to show a 4.338 BB crop (ly-4.356) with a 52.5 bpa yield! US & Global Stocks are expected to decline slightly! There is currently no weather premium in the mkt – ahead of the long growing season!

 

JULY CORN

After getting hammered yesterday for over a dime, July Corn is recovering nicely today as the mkt considers putting in a weather premium for the summer! Mondays export inspections were a very healthy 1,656 mmt -running 30% over 2024! The mkt anticipates several trade deals being completed soon! The Thursday WASDE is expected to show a 15.795 BB crop (ly-14.867) & a 180.9 yield (ly-179.3) Both domestic & global carry-over is expected to decrease slightly! The mkt has already dialed in a lot of bad news including the tariffs & a great start to the growing season!

 

JULY WHT

July Wht edged up to the top of its 6 wk trading range – only to reverse – losing almost 30 cents due to an improving Russian Crop, better crop conditions in the US & an expected increase in stocks in Thursdays WASDE REPORT! The mkt is back into the middle its 6 week trading range (510-560)!

 

AUG CAT

Aug Cat continues its relentless march higher – led by a roaring cash mkt – & despite its meteoric rise – is still $15 discount to cash! How high is high? We guess demand will answer that question! The OUTDOOR GRILLING SEASON – the best demand period of the year is upon us – & is pushing cattle prices higher most every day!

 

JULY HOGS

July Hogs continue to vie with Aug Cat for the upside leadership in the meat complex! Both make new contract highs almost every day – fed by the excellent demand authored by the SPRING/SUMMER demand period! Eventually demand will be turned off by the high prices but for now the “path of least resistance is definitely up”!

Questions? Ask Bill Moore today at 312-264-4337