WASDE预期

In the overnight session the grains traded higher with soybeans up 4 1/2 cents, wheat up 2 1/2 cents and corn unchanged this morning. The U.S. dollar is helping grains this morning, trading down nearly 1/2 a percent. Crude oil is trading higher by $1.28 this morning after the EIA raised its 2015 oil demand growth forecast.

Traders will be watching the June WASDE report which is scheduled for release out at 11 AM CST today. According to a Reuters poll of Analysts the average guess for old crop corn endings stocks is 1.859 billion bushels up from 1.851 billion bushels last month. Analysts are also expecting wheat ending stocks to rise to 712 million bushels which would be up 3 million bushels from May. Old crop Soybean ending stocks are expected to fall by 11 MBU to 339 million bushels.

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.

This morning the Taiwan Flour Millers association has issued a tender to purchase 97,420 of wheat from either the U.S or Europe. Israeli private buyers purchased an unknown amount of optional origin corn and feed wheat in a tender for 115,000 metric tons of corn and 65,000 metric tons of wheat this morning. The USDA announced a reportable sale of 128,000 metric tons of primarily new crop soybeans to unknown destinations this morning.

—Cody Bills