Morning Notes 6-7-18

Higher in the overnight

Grains higher in the overnight session with wheat taking the charge, up 11 1/2. Corn is up 2 1/4 cents, and beans are up only 1/4 cent.

U.S. Dollar Index down 330 points. 

Morning Headlines
Weekly corn export sales totaled 839 MT for 2017/18, weekly soybean exports totaled 165 MT for 2017/18, and weekly wheat export sales were (20) MT for 2017/18.

Some places in Southwest Kansas received .75" of rain overnight.

USDA S & D Report out June 12, Quarterly Stocks out June 29th.

Chart of the Day
Weekly DOE total U.S. fuel ethanol production was steady this week at 1.041 million barrels per day, for the week ending June 1; that was up from just 999k bpd on the comparable week last year. That’s also roughly in line with the cumulative production number since September 1, at 1.042 mln bpd; that’s 24k bpd ahead of both last year’s pace and final figure, suggesting a +131 million bushel increase in corn use for ethanol year-over-year, if anything just a hair short of the USDA’s expectation for corn use in 2017/18.