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Spring trade and weather conditions will converge in the June WASDE report, to be released Thursday, and we'll report from several ag conferences.
Weather continues to throw wrenches into operations for DTN's View From the Cab farmers reporting on the season from Alabama and Nebraska.
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AgHost Grains Close
July corn closed up 5 1/4 cents and December corn was up 2 cents. July soybeans closed up 1 3/4 cents and November soybeans were up 1/2 cents. July KC wheat closed down 10 1/4 cents, July Chicago wheat was down 7 1/2 cents, July MIAX Minneapolis wheat was down 9 1/4 cents.
DTN Ag Host Midday Livestock
It's been a mostly uneventful morning for the livestock complex as the markets are trading, but traders seem to be holding their breath until it's seen how the fundamentals are going to shake out this week.
Cash Soybean Meal Prices Lower, DDG Prices Mixed Last Week
Cash soybean meal prices were lower for the week and DDG prices were mixed.
Heavy Trading in Butter
Cheese prices did not change during spot trading, but the dry whey price slipped. This put pressure on Class III futures. The butter price declined with heavy trading activity.
Ethanol Futures Follow Corn Markets Lower
Corn prices followed the grain market lower Monday. This caused grain trade to give back most of last week's gains based on mild weather forecasts, which is expected to increase crop yields through the year. Ethanol prices slipped lower despite renewed buyer support moving back into the gasoline and crude oil energy markets. July corn was down 9 cents at $4.33 1/2 and December closed down 11 1/4 cents at $4.38 per bushel.
Urea, UAN28 Lead Major Fertilizer Prices Higher
Seven of the eight major fertilizers were higher compared to last month. Two fertilizers (urea and UAN28) had a sizable price increase compared to last month for the third consecutive week. DTN designates a significant move as anything 5% or more.
Cotton Suffers Lower
The cotton market ended lower Tuesday, partly due to U.S./China trade talk frustrations and also due to its bearish technical trend.
Grain Markets Lower Again; Oilseeds Slightly Higher; Outside Markets Quiet
Generally favorable weather conditions overall with nonthreatening forecasts for the next few weeks continue to weigh on ag markets, grains in particular.