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Tidbits, Weather, Hammersmith's Summary, Crude Oil 6/17/24

Announcements


The National Oilseed Processors Association (NOPA) crush for May will be released around noon today. It is expected to be a record large soybean crush number for the month of May.

 

No CBOT trading from the close on Tuesday afternoon until Wednesday evening 7 PM Central. It is a Joe Biden created Federal holiday called Juneteenth, the day in 1965 when the news reached Texas the War Between the States was over.

 

July CBOT options expire at the close of CBOT trading on Friday.

 

If you have July basis contracts, you should have until June 27th to roll or cash out, but more and more merchandisers are backing-up the dead-line fo4 July basis contracts. Check with your merchandiser today. We are sure some merchandisers will require liquidation this Friday, June 21st.    

 

Crop Progress reports this afternoon. Market expects corn and beans conditions to lose 3 to 4% from the good and excellent categories. In West Central Ohio, even with a nice shower Thursday, crops really took a beating since then. The roots are too shallow to get the water deeper in the soil.

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