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Grain Market Insight
Afternoon Grain Comments 7-1-2022 – Good afternoon. All the grains were lower at the end of the day session today, with soybeans leading the way. A comment from Stonex, “Carryover from yesterday’s weakness as fear beget more fear in the speculative crowd. US weather forecast hold onto their rains and Recession remains a threat to all commodities.” Corn is going to be relying on July rains to help with yields in order to hold off rationing. If rains are not as predicted for this holiday weekend, we could see a bounce Tuesday. Soybeans were down on much of the same as corn. China could have their own recession after having their COVID Zero policy, where basically everything was shutdown. Wheat was lower on recession talks, too. US wheat still remains uncompetitive on the world wheat market. The markets will be closed Monday for the 4th of July and won’t open back up until Tuesday at 8:30 A.M. At the close of today’s markets cash wheat was down 38 cents, cash milo was down 9 cents, cash corn was down 9 cents, and cash soybeans were down 51 cents. Have a great evening and weekend!
Morning Grain Comments 7-1-2022 – The grain markets all traded both sides of Thursday’s closes on their way to a mixed end to the night session. Kansas City September wheat traded double-digits higher as well as double-digits lower while corn had a narrower trading range but still 14 cents. Soybeans also traded double-digits both ways with a range of nearly 40 cents in a night session of a little better than normal volume with December corn and November soybeans leading with the most volume. The StoneX Quick Editorial this morning stated “corn is taking a break after big losses yesterday. Weather models are wet heading into the 3-day holiday weekend. Just a reminder, the grain markets will be closed Monday for Independence Day with no night session Monday evening. At the end of the night session at 7:45 this morning, Kansas City September wheat was 4.25 cents higher, Chicago September corn was up a nickel, and Chicago August soybeans ended the night session 12.5 cents lower. Have wonderful day and weekend.
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July 2 Rainfall during the early morning hours gave us 0.5 inch of rain in Sublette.
June 27 It was a drippy afternoon with 0.2 inch of rain in the gage in Sublette.
June 8 Another rain during the night/early morning hours gave us another 0.4 inch of rain in Sublette. ? June 7 Rain in Sublette in the late evening of the 6th and into the morning of the 7th gave us 1.3 to 1.8 inches of rain.
June 3 A little rain shower in Sublette of 0.1 or less.
May 23 / 24 A nice rain fell in Sublette starting on Monday evening and into Tuesday with 0.7 inch received.
May 18 A late evening rain storm gave us 0.5 inch in Sublette.
