Mid-Day Markets: Corn +1. Soybeans +11. Wheat -6.
We will extend our free DP for corn from May 31 until July 31.  Topflight will also offer free DP for soybeans delivered off the farm, starting June 1 until July 31,2019.
·         Markets are mixed with corn up 1, soybeans up 11 and wheat down 6.
·         Yesterday’s sell-off in beans came on the heels of ideas the U.S. was going to be giving farmers increased aid favoring soy.
·         USDA urges farmers to not make planting decisions on aid package but rather market minded decisions.
·         Ethanol production averaged 1.017 million barrels per day; up 1.90% vs. last week and up 4.18% vs. last year.
·         Ethanol stocks were 23.404 million barrels; up 5.19% vs. last week and up 5.76% vs. last year.
·         Corn used is estimated @ 110.55 million bushels; 100.631 million bushels needed weekly.
·         President Xi Jinping has urged China to begin a modern “long march,”; suggesting that Beijing has abandoned hopes of a trade deal in the near term.
·         There are no additional trade talks scheduled between U.S./China; China says they are open and ready to talk.
·         The weather forecast for the Midwest looks to remain wet through next week with some mixed signals for the 11-16-day models.
*110,000 tons of beans sold to unknown in 18/19*
*21,000 tons of beans sold to unknown in 19/20
Have a great afternoon!!!
Chelsey White
Emery Branch Manager/Originator || Topflight Grain Coop
593 Emery Rd.
Maroa, Il 61756
E-Mail: cwhite@topflightgrain.com
Web: www.topflightgrain.com
This material should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by Topflight Grain Cooperative, Inc. Topflight Grain is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Contact Topflight Grains designated personnel for specific trading advice to meet your trading preferences. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by Topflight Grain Cooperative, Inc.


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