Tough Week: Are We There Yet?

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.🇦🇷 Argentina Rushes Exports Ahead of Tariff Expiry Crop traders in Argentina are rushing to secure export licenses before tariff relief ends on June 30. President Javier Milei’s temporary cuts—🎯 soybean meal/oil from 31% to 24.5% and 🌽 corn from 12% to 9.5%—sparked a surge in exports, making June the busiest month since he took office. The move aimed to support farmers and boost foreign reserves ahead of October’s midterms. 🚜💰 Ag groups are urging an extension.  🌧️ Rain Brings Drought Relief Across U.S. Corn Belt Last week’s rainfall helped ease drought conditions across major growing regions like Iowa, Illinois, Indiana, and Minnesota. 🙌 Just 6% of the Corn Belt remains in drought. Nebraska and the High Plains also saw some improvements. 📊 Drought by Crop: Corn: 16%Soybeans: 12%Winter Wheat: 20%Spring Wheat: 25%Cattle Areas: 18%📉 U.S. Export Sales DipCorn: 741,200mt (29M bu), ↓18% from last week; 🇨🇴 Colombia top buyer. Soybeans: 402,900mt (15M bu), ↓16% weekly but ↑83% vs. 4-week avg; 🇳🇱 Netherlands top buyer. Wheat: 255,200mt (9M bu), ↓40% from last week; 🇯🇵 Japan top buyer. 📅 Key USDA Report Coming Monday The USDA will release the Planted Acreage and Grain Stocks report Monday morning. Expectations:Slight increases in 🌽 corn and 🌱 soybean acreageCorn stocks: ↓7% YoYSoybean stocks: ↑1%, 5-year highWheat stocks: ↑20%, 4-year high 📉 Market action suggests traders expect a bearish report. 🇷🇺 Russia’s Banking Sector in Trouble? Analysts warn of a potential financial crisis by 2026. Rising bad debt, high interest rates, and borrowers falling behind on loans are fueling a credit crunch. 💸 Despite record bank profits in 2024, inflation and war-focused spending are straining the private sector. Trillions of rubles in bad loans may already be in the system. 🚢 Soybean Flash Sale & Egypt Corn OrderUSDA reported a 110,000mt corn sale to 🇪🇬 Egypt for 2024/25.Cumulative soybean sales are up 11% YoY for the current marketing year.☀️ Weekend Weather Outlook: Warm & Wet Rainfall is expected across the 🌽 Midwest through Sunday, with above-normal temps. Agronomists are confident: subsoil moisture is strong going into July, a critical month for corn growth. 🌾🌦️