Weather Beats Dull June WASDE
Grain markets were mostly green in the first week of June as a relatively neutral monthly WASDE report quickly gave way to weather trade again.
Brennan Turner previously founded Combyne Ag, a grain accounting and crop marketing hub built to help producers make more informed decisions while on the go, via digitizing and unifying inventory, contracts, load tickets and settlements into a single app. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting Combyne. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow as part of the Aspen Institute. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still does to this day on more than 80,000 acres!). Brennan’s comments on grain markets are regularly featured in everything from small-town newspapers to large media outlets like CNBC and Bloomberg.
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Subscribe to Market InsiderGrain markets were mostly green in the first week of June as a relatively neutral monthly WASDE report quickly gave way to weather trade again.
Grain markets saw some heavy selling the last few days of March, before bargain buying and weather market bullishness rallied the complex for a mixed close.
Grain markets all added back some weather premium last week ahead of the Memorial holiday-shortened trading week and the end of May.
Grain markets finished the second week of May in a sea of red, as improving planting conditions (and pace) and a two-month extension of the Black Sea Grain Corridor Deal fuelled heavy selling.
Grain markets were mixed as we moved into the 2nd half of May as some WASDE report surprises, accelerating Plant 2023 activity, and Black Sea Grain Deal negotiations all weighed on the complex.
Grain markets started out the first few days of May trending lower before reversing mid-week and closing higher thanks to renewed planting and geopolitical premiums, along with some bargain buying.