The aftershocks from the USDA WASDE report carried over into the market this week as everyone settled into the new numbers. US corn prices were up just a little on the week perhaps USD 3 to 4 m/t with soybeans moving higher once again by USD 10 to 13 m/t and soymeal up by almost USD 10 m/t. US winter wheat prices were up by about USD 4 m/t while spring wheat was unchanged.......please click PDF to see more details

The USDA WASDE report was the main news as the week ended and seemed to be a surprise to most everyone with its bearish tone. Corn production and yields were both increased over the last report and the same applied to soybeans with higher yields and higher production. Although, with higher yields and higher production, ending stocks were forecasted to be higher and added some additional bearishness to the report..............please click PDF to see more details

This week was another up week for US grain prices with corn up by just a little at about USD 3 m/t higher with soybeans up by only a couple of dollars and soymeal prices mainly steady. As is being seen all over the world, US wheat prices were up strongly with winter wheat up by at least USD 12 m/t while spring wheat was up by almost USD 10 m/t.........please click PDF to see more details

It was another strong week for soybeans/soymeal and wheat but just kind of a steady week for corn prices. US soybean prices moved higher by USD 7 or 8 m/t with soymeal up by USD 6 to 7 m/t and what price up strongly – winter wheat by close to USD 10 m/t with spring wheat up by USD 13 m/t............please click PDF to see more details

Hot dry weather in much of the US was a factor in higher prices this week for most grains: corn was up by about USD 5 m/t, soybeans up by USD 11 m/t, winter wheat up by close to USD 7 m/t and spring wheat up by about USD 8 m/t ---- only soymeal seemed to be able to be steady on the week..............please click PDF to see more details

Today is France’s most important day of the year – honoring the storming of the Bastille in Paris back in 1789. The storming of the Bastille is celebrated as the beginning of the French Revolution. The 14th is a national holiday and events are being held to commemorate the day in every city, town and village in France.................please click PDF to see more details

The number one topic in most trade reports continues to be the US/China trade problems and the expansion of tariffs by other countries in response to the US’s steel and aluminum tariffs. Even Turkey slapped a bunch of tariffs on US imports but luckily did not add anything to grain and corn by-products.
It was also a funny week in the US due to the July 4^th holiday coming on Wednesday which seemed to upset the futures market a bit. Nothing like a mid-week holiday to get the futures market all excited...............please click PDF to see more details

Summer weather has finally arrived in the south of France, pushing out the weeks of rain that we had been seeing. Daytime temperatures are now up in the mid-30’s centigrade (about 95 F) and there is not a cloud in the sky. Now all those soaking wet fields can dry up a little and the farmers can start smiling again.

I was in London this week for the International Grains Council Conference and the gala GAFTA dinner – a very busy three days but great to see many folks that I only see very rarely. The GAFTA dinner is also about the only time in the year when I get to get all duded up in my tuxedo.

There is nothing like some weakness in the market to get everyone excited and this week was certainly one for falling prices. Corn was down by about USD 6 m/t with soybeans down by USD 2- to 24 m/t, soymeal down by about USD 18 to 20 m/t, winter wheat and spring wheat both down by about USD 8 m/t --- everything was down.