Grains
Grains this morning are mixed with July corn -4.50 (-1.17%), Jul soybeans +3,50 (+0.37%), and July wheat -0.50 (-0.11%). Grains on Friday closed higher with Jul wheat at a 1-year nearest-futures high: Jul corn +4.50 (+1.19%), Jul soybeans +4.25 (+0.45%), Jul wheat +11.50 (+2.53%). Bullish factors Friday included (1) a weaker dollar, and (2) weather concerns with excessive heat and limited precipitation forecast for next week in the central U.S. Monday's Crop Progress report showed 45% of the spring wheat crop in good-to-excellent condition as of Jun 11, down -10 points w/w and the worst condition for this time of year since 1988. Monday's USDA weekly Crop Progress report also showed that 67% of the U.S. corn crop was in good-to-excellent condition as of Jun 11, down -1 point w/w and down from 75% the same time last year. The U.S. soybean crop was 66% in good-to-excellent condition as of Jun 11, down from 74% the same time last year and the lowest for the date in 5-years.