Wednesday June 5, 2013 



Commodity
Period
Price
Weekly Movement
 
 
 
 
 
 
 
 
Corn CBOT
July
6.60 ¾   
? 
 4 ¼ 
cents
Soybeans CBOT
July
15.32   
?
 30 ¼  
cents
Wheat CBOT
July
7.01 ½   
?  
1 ¼   
cents
Wheat Minn.
July
8.16  
?
¼  
cents
Wheat Kansas
July
7.43 ¼    
?
4 ½   
cents
 
 
 
 
 
 
Canadian $
June
0.96620
?
13 
points

CORN
According to the United States Department of Agriculture, 91percent of the expected corn crop has been planted. Planting has crept closer to the five year average of 95percent; a lot of corn has been planted over the last few weeks. 

Emergence is also behind at 74percent though the condition of the corn crop has been rated at 93 percent fair and good to excellent.

With the potential for an increase in corn production in Russia, Ukraine and the Black Sea region, there could still be a large corn crop even with fewer acres of US corn planted.

SOYBEANS
Tight physical supplies of US soybeans are supporting nearby prices in attempts for rationing demand requirements through the summer and into new crop harvest. 

Planting continues in the US with 57 percent of the expected soybean crop planted. This is up from 44 percent last week, but still well behind the five year average of 74 percent for this time of year. 

WHEAT
France has been asked by Egypt for assistance in storing grain and for easier payment terms for wheat imports, French official sources said, as Egypt struggles with a prolonged economic crisis; two years of political turmoil and economic crisis have eroded Egypt's currency reserves, making it difficult for the country to finance essential food and fuel imports.

2013 Harvest contract prices for June 5, 2013 at market close are as follows:
SWW at $ 251.57 per tonne ($ 6.85 /bu.), SRW at $ 234.45 per tonne ($ 6.38 /bu.), HRW at $ 247.76 per tonne ($ 6.74 /bu.), and HRS at $ 271.72 per tonne ($ 7.40 /bu.).
       Ontario Grain Market Commentary for June 5, 2013
       By Todd Austin, Grain Farmers of Ontario