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Market Analysis: John Roach (June 9, 2017)

Market Analysis: John Roach (June 9, 2017)

The expectation of lower year-over-year ending stocks and an early arrival of the dog days of summer made for higher commodity markets even before Friday’s midday release of the June WASDE report. For the week, July wheat gained 16 cents and the nearby corn contract, rose 15 cents. Sales to unknown destinations fueled the fire as the July soybean contract gained 20 cents. July meal added $4 per ton. In the softs, July cotton continued to shrink falling $1.00 per hundred weight. Over in the dairy parlor, June Class III milk futures lost 24 cents.