We kicked off the day with Consumer Inflation Expectations and Export Inspections at 10:00 A.M, 3-Month Note Auction and 6-Month Bill Auction at 10:30 A.M., 3-Month Bill Auction and 10-Year Note Auction at 12:00 P.M., Monthly Budget Statement at 1:00 P.M., and Crop Progress at 3:00 P.M.

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On the Corn Front, we're trading higher on Brazilian weather concerns and less rainfall than was forecasted across the west north central Midwest, and expected cool temperatures this week with warming to start on the weekend. The below normal Midwest rainfall forecast add to the dryness that has been building since late winter. With below normal rains this spring across the Midwest has sent soil moisture levels plunging. We will look at Export Inspections and Crop Progress while keeping an eye on the Drought Monitor. In the overnight electronic session the July corn is currently trading at 612 ¾ which is 8 ½ cents higher. The trading range has been 617 ½ to 608 ¾.

On the Ethanol Front Growth Energy CEO, Emily Skor cheers Illinois law that will reduces taxes paid on higher blends of gasoline signed into law June 7^th. She said, “From sustainable aviation fuel to low-carbon E15, our leaders in Illinois have made big strides this year to decarbonize transportation, supports rural jobs and save consumers money.” There were no trades or open interest in ethanol futures.

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