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Tidbits, CBOT Options, Weather Forecast, Broilers & Ethanol 6/21/24

Highlights


July CBOT options expire today. A week from today is the Actual Planted Acres, Wheat Production, and Quarterly Grain Inventory as of June 1st. These numbers make the last business day in June the most important report day of the year. 

Friday is not only option expiration in the grains but also for stock & index options, index & single stock futures. This could be the largest ever with over $5.1 trillion in option exposure expiring and over $870 billion of that in single stock options.

 

There are CBOT weekly options that expire every Friday. The advantage of the weekly options is one can buy price protection for a major risk event with very little time value. For more information, check with your commodity broker.   

 

On Monday, the market was trading rain coming into the Eastern Corn Belt next week. On Tuesday, that rain next week was removed. Yesterday, the rain was predicted to come into the Eastern Corn Belt the first week of July.


Yards from Western Illinois to the East Coast are turning brown. Corn that was mudded-in is looking tough in many areas east of the Mississippi where temperatures have been over 90°F since last Thursday. Corn that is looking good is curling every day in many areas of the Eastern Corn Belt. If the rains come, corn will be looking great again.

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