Good Morning,

When we left last Friday there was a potential ridge developing in the central plains that could have brought hot and dry conditions to the mid-west. It looks as of now that this ridge is not going to develop. The U.S. Midwest weather forecast looks mostly quiet the first half of this week before good rains look to fall mainly in the northern sections of the corn-belt. As always, weather is the driver in June and for now it is driving the markets lower.
The Trump administration is expected on Monday to announce changes in biofuels policies, including a plan to count ethanol exports toward federal biofuels usage quotas and allowing year-round sale of fuels with a higher blend of ethanol; the changes, expected to be outlined in a memorandum on Monday, will be subject to the federal rule-making process.
Soybean prices continue their downward trek on increased US/Chinese tensions over tariffs on US/Chinese goods. China threw out a warning against the US imposing tariffs on $150 billion of Chinese goods after weekend negotiations faltered.
This afternoons planting progress and crop conditions reports should be bearish the markets given last week’s weather.
Corn is down 6, soybeans are down 11 and wheat is down 14 to begin the week.

Have a Safe Day!

Garry Gard
920-348-6844
ggard@didionmilling.com

Good Morning,

A potential ridge is developing in the Central plains that could bring hot and dry conditions to the mid-west. There are conflicting forecasts on where this ridge will set up which has traders on edge. If it sets up over the US corn-belt, we will see the markets test their old highs. If it sets up further to the west we will see normal temperatures and more rain in the corn-belt. Traders will be watching weather forecasts closely today and early next week for the latest updates and we could see dramatic swings in the market with each forecast.
Countries have wasted no time in retaliating against new tarrifs from the US yesterday. The EU released a list that includes jewelry, automotive glass, bourbon and blue jeans. Mexico will target port bellies, fruit, cheese and flat steel. Canada says it will match the new tariffs dollar for dollar on a wide range of goods. NAFTA negotiations are breaking down after the US insisted on a 5 year sunset clause.
With crop conditions at record highs in the G/E category, it is going to take weather scares for this market to move higher. We are still a long way from the finish line but if weather doesn’t give the bulls reason to trade we could see this market struggle to maintain current levels. I am still in the camp that we have another 10-20 cents to the upside, but am banking on at least one weather issue for that move.

Have a Safe Weekend.

Garry Gard
920-348-6844
ggard@didionmillling.com

Good Morning,

Last May’s incident will stay with each of us forever, and we will never forget. Today, our focus is to honor and remember the team members we lost and those who were injured.

As we come together to reflect on the day that marks the 1 year anniversary, we are very grateful for the continuous outpouring of support and prayers we have received during the journey to recover and rebuild.

As a community and as a team, we have many reasons to be thankful and hopeful for the future. Our commitment to support our team and the Cambria community remains strong.

Have a Safe Day!
Garry Gard
920-348-6844
ggard@didionmilling.com

Good Morning,

Last night’s planting progress showed corn 92% planted vs 90% for the five year average nationally. Wisconsin came in at 81% complete compared to 81% for the five year average. Corn condition ratings showed corn at 79% good to excellent, the highest rating since 2007. Soybeans were 77% planted compared to 62% for the five year average nationally.
We are seeing big setbacks in all commodities yesterday and this morning with some key reversals in the markets. The funds have reduced their long positions by 24,000 contracts in corn and 94,000 contracts in beans so far this month.
With the combination of weather forecasts, crop ratings and political news I would expect more selloffs heading into the month end.
The last couple days should be a reminder to all producers and traders that these markets are very volatile and the slightest change in weather, weather forecasts, news can move the pendulum very quickly. You need to be proactive selling when the opportunities are presented.

Have a Safe Day!

Garry Gard
920-348-6844
ggard@didionmilling.com

Good Morning,

I believe yesterday’s selloff in the markets was merely traders exiting some of their long positions with the intent of making it a four day weekend. The Ag markets like to make big moves coming out of these long weekends so don’t be surprised to see the markets make a big move higher or lower when we resume trade Tuesday. Weather is nearly ideal for crop development across much of the Corn Belt and some sort of minor correction is probably in order.
Prices are slightly higher today in what is expected to be a light volume day heading into a three day weekend. Corn is up 1, soybeans 6 and wheat is up 9.

Thank you to all the Veterans who mad the ultimate sacrifice so that the rest of us could enjoy our freedom!

Have a Safe Weekend!

Garry Gard
920-348-6844
ggard@didionmilling.com