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Tidbits, July Roll, Broilers & Ethanol, Markets & Rain Days Update 6/29/23

July Futures Expiration


Today is the last trading day before first notice day for deliveries on July CBOT contracts. After the close today, if any delivery notices are given to the CBOT for delivery on July futures, those deliveries will be assigned to the oldest long July positions after the close today. What does that mean for you?

If you have July basis contracts, your merchandiser wants you to cash them out or roll to a deferred month before the market closes today. If you are long any July 2023 contracts in your futures trading account, your broker wants you to liquidate or roll those positions before the close today. Your merchandiser and your futures broker do not want you to be the proud owner of 5,000 bushels of a commodity in a Cargill or ADM elevator on the Illinois River come Monday morning.

Even if you have none of the above positions, you should be very interested in the number of deliveries because they are an important indicator of the liquid supply of the various commodities. You can read about the process and significance of deliveries at:

When the December corn high for the year is before or during the growing season, the corn market provides two to four opportunities to get corn sold near the high. Here is the recent history:

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