This Week in Ag (Jun 22)

Fundamental:  Prices for corn and soy have both moved higher in the period following the June WASDE report. Yesterday's crop progress reports reflected slightly higher stress on both corn and soy crops - not unexpected as summer progresses.  NWS 6-10 day outlook is calling for normal to slightly above normal rainfall for the corn belt while temperatures for the area are trending slightly above normal.   The weekly export sales reports were friendly for corn and soy with both exceeding the previous 4-week average.  It is encouraging for demand to see these numbers posted while Brazilian offers continue to be more competitive into destination markets.  Cotton fundamentals for the week were balanced.  Steady crop conditions, modest export sales and a mixed Texas weather pattern - hot currently but with slightly more rain in forecasts than previous.