Markets Continue Higher Early Monday

在隔夜session, the grains traded higher with corn up 2 3/4 cents, soybeans up 6 cents and wheat up 6 3/4 cents. The U.S. dollar is trading lower by nearly 1/2 a percent and crude oil is down 33 cents. Greece expressed interest toward negotiating the latest Austerity proposal from lenders through the remainder of June which is an improvement from the outright rejection of the proposal which occurred last week. This is a slight improvement in the tone and helped lift the Euro early Monday morning.

Scab has emerged in Kansas, the largest producer of winter wheat in the U.S. after wet weather late in the growing season provided ideal conditions for the fungus to grow. The moist conditions have traders concerned about winter wheat crop quality.

Russia’s Sovecon announced that it has upgraded its Russian grain production forecast to 99 million metric tons from 94 million metric tons in its previous forecast.

交易者将观看定于周三上午11点发布的六月WASDE报告。根据路透社的一项民意测验，分析师的平均猜测是旧农作物玉米端股票的平均猜测为18.59亿蒲式耳，高于上个月的18.51亿蒲式耳。分析师还预计，小麦结局的股票将增加到7.12亿蒲式耳，比5月的蒲式耳增长300万。旧农作物大豆结局预计将下降11 MBU至3.39亿蒲式耳。

For new crop, analysts are expecting both corn and wheat ending stocks to rise while soybean ending stocks decline from the May report. The average guess for new crop corn ending stocks is 1.779 billion bushels up from 1.746 billion bushels in May. Wheat ending stocks are also expected to rise, with expectations of 798 million bushels from 793 last month. Soybean ending stocks are expected to decline this month with the average trade guess looking for 487 million bushel carryout compared to 500 million bushels in May.

—Cody Bills