Morning Highlights June 29, 2011 800-328-6530 www.countryhedging.com ____________________________________________________ The information contained in this document is taken from sources which we believe to be reliable, but is not guaranteed by us as to accuracy or completeness and is sent to you for information purposes only. There is a risk of loss when trading commodity futures and options. Country Hedging, Inc. bases its recommendations solely on the judgment of Country Hedging, Inc. personnel. Highlights: Outside markets as of 6:30 am CT: US dollar is down 38 at 75.11, gold is up $8.80 at $1509.10, crude oil is up $1.06 at $93.95 and the S&P is up 8.25 at 1302.75. Results from Greece’s vote on austerity will be released sometime this morning. First notice day is tomorrow, June 30th, for July grains, the same day as the stocks report. Corn: The average estimate for tomorrow’s stocks report for corn is 3.302 billion bushels. Warmer weather in the Northern Plains and Midwest is seen as beneficial to crops for the next 5-7 days. Corn was the strongest grain overnight with old crop climbing nearly three percent and new crop gaining two and third percent. Early Call: 18-20 higher old crop, 14-16 new crop Soybeans: The average estimate for tomorrow’s stocks report for soybeans isi 596 million bushels. Malaysian Palm climbed 1.5 percent as strong exports and short covering was seen lifting prices. Early Call: 12-14 better Wheat: The average estimate for tomorrow’s stocks report for wheat is 826 million bushels. Japan bought 12,000 tonnes of feed wheat and 95,400 tonnes of feed barley. November Paris Milling wheat continued its two day rise climbing 2.8 percent to 200.50 Euro. India’s food ministry is considering exporting up to one million tonnes each of wheat and rice. India has limited exports greatly since 2007. The Canadian prairies will see warmer temperatures and less rainfall over the next 5-7 days and this is seen as favorable for crop development. Early Call:10-15 higher |