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Market Commentary

Early Call 7/11/18 for Jul 16, 2018
This market commentary is for informational purposes only. The views and opinions offered in the report are solely those of Bunge Limited and its subsidiaries ("Bunge"). Bunge is not a futures broker and this is not an offer to buy or sell any commodity or futures contract. The information contained in this commentary has been obtained from sources believed to be reliable but is not necessarily all-inclusive and is not guaranteed as to its accuracy. Persons acting on any information contained in this commentary are responsible for their own actions.
Good morning,
Overnight trade:Corn is down 0.25 cents, beans are down 0.5 cents, Chicago wheat is down 4 cents, meal is up 1.3 bucks, and oil is down 16 points. Corn spreads are mixed, bean spreads are unch/weaker, Chi wheat spreads are mixed, and crush is mostly weaker. 
The precipitation and temperature forecasts continue to look favorable for the next 1-2 weeks with continued timely showers and neutral to cooler temps than the Midwest has been experiencing the past month. There have not been any significant/new developments in the US/China trade war, but the market will be quick to react to any rumors of notable developments. Managed money continues to build on their net shorts in beans and corn, but they still have plenty of room left to build their net short.
NOPA's June crush report will be released at 11 am CST today.
Have a nice day.
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