Mark's Market Talk for June 9, 2025

We saw mostly higher futures prices last week except for July corn which was down a couple of cents. December corn showed some strength as it closed 11 cents higher. Beans were higher with July finishing the week 5 cents higher and the November contract was 10 higher. Traders added to their short positions on both crops as they are now short 154,000 corn contracts and 28,000 bean contracts. The weather continues to be non-threatening which is putting some headwind into the markets. The June supply and demand report will be out this Thursday. The trade is looking for corn exports to be increased, however they also see domestic usage being decreased some as the feed and ethanol demand has softened. The government continues to play ping pong with the renewable fuel standards and that keeps traders edgy as it is hard to accurately predict ethanol and bio diesel production. Going forward we need these products to consume a large amount of our production. We are competitive on the world market for late summer beans, but we are losing our advantage in the corn market as South America starts their second season corn harvest. They have the same lack of corn storage as they do with beans. Their storage program is to ship it out of the country ASAP. This forces them to take less money which in turn hurts our prices. If there is a silver lining for our area right now it is the progress of our crops. Just like last year it looks as good here as anywhere right now. Lets hope that continues and we have a great harvest just like last year.