6/13/2013 7:06:34 AM
*Please consider checking all of your open orders on ChetaPro to verify their correctness. If you are unable to use ChetaPro, please call a broker at CHS Hedging to verify your open orders.
- Today is the last day of the index roll.
- Overseas markets were lower overnight with the Nikkei down 6.35%, the Hang Seng down 2.1%, Stoxx 50 down 0.8%, FTSE 100 down 0.8%, and the DAX lower by 1.4%.
- The U.S. dollar is weaker, crude oil is lower, the Euro is lower, and equity futures are lower as of 7:00am Chicago time.
- So. MN, WI, MI and No. IA, IL, IN, and OH received 0.5-1.5” rain yesterday, with another system forecast for the weekend, feeding planted crops, but disrupting fieldwork.
- Corn traded mixed overnight in a 4 cent range following yesterday’s USDA supply and demand report.
- July continues to lose open interest as September gains it, July down 15,800 contracts yesterday while September gained 23,900 contracts. Large specs reduced net long positions by 12,000 cts.
- A large multinational financial services company deemed the WASDE report ‘modestly bearish’ for corn and insisted focus should be quickly shifted to the June 28 acreage report.
- Corn export sales for last week came in at 81.5 tmt for old crop, and 68.0 tmt for new crop, versus expectations of 200-400 tmt.
- Soybeans traded lower overnight in a 15 cent range, with the nearby July contract seeing the most weakness, at times dropping to double-digit losses.
- BSPA-T, out of Taiwan, bought 60tmt of soybeans for Aug-Sept shipment out of Brazil in a tender, at +173 SQ, $593/ton C&F.
- Malaysian Palm Oil futures settled 27 ringgits lower to 2,424 for the August contract.
- Soybean export sales for last week came in at 33.5 tmt for old crop, and 447.1 tmt for new crop, versus expectations of 300-700 tmt.
- Soymeal exports came in at 97.7 tmt for old crop, 47.1 tmt for new crop, soyoil came in at 13.2 tmt for old crop.
- The USDA cut EU rapeseed harvest by 300 tmt to 19.7 mmt, citing heat and dryness, as well as excessive wetness in parts.
- The wheat complex traded mixed overnight in a 5 cent range following yesterday’s report, with the Minneapolis July contract seeing the most strength.
- Japan bought 157.4 tmt of milling wheat in a tender, 94 tmt of that being from the U.S.
- Moscow-based agricultural consultancy, SovEcon, revised Russia wheat production to as high as 52 mmt for 2013/2014, versus the previous forecast of 50 mmt.
- SovEcon also raised exports to 14-15 mmt for 2013/2014.
- Wheat export sales for last week came in at 427.2 tmt for 2012/2013.