Morning Comments, June 12, 2020

Agriculture Cereals Corn 1242 Pixels Free To Use

Opening Calls:

Corn steady

Beans 2 to 3 higher

Beans are getting support again from rumors of more Chinese purchases. USDA was hard on wheat yesterday, which will weigh on corn. USDA cut soybean exports, but increased crush which will help soybeans going forward.

Corn is currently trading above it’s 50-day moving average and has been there all week. Traders will turn to weather and Chinese purchases.

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