Coffee Cup Comments
Morning Grain Comments June 5th, 2020
Managed money was the diver in the markets yesterday as short covering in corn and wheat moved prices higher. Continued small purchases of soybeans by China supports the markets as well. Export sales have been decent in corn and wheat lately showing some demand from slowly improving economies. The US dollar has been a bit weaker which helps exports also. This is the time of year that the market tries to put in a bit of a weather premium into the price as well. The market looks to be firmer to start out the morning awaiting additional news to trade. Currently corn is up 1, soybeans up 2-3 and wheat is up 2 cents.