June WASDE On Deck

Soybeans did a better job of holding its gains yesterday finishing 17 cents higher in
November while December corn added only 6.75 cents. Weather remains warm and
mostly dry and the markets will try gyrate with an upward bias but some longs may
book some profits in front of tomorrow’s report. For the Wasde we are looking for a
cut in Brazilian corn production into the 90’s but most think they will stay in the high
90’s but they need to be lower. They need to bump exports and ethanol on the
demand side of the balance sheet and if they do it should be supportive prices.

See attached report for more information on outlooks, technicals, and weather updates.

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