HIGHLIGHTS
· Market Trend: Corn, CN Down 2; Soybeans, SN down 1 ¾; WN, Down 1 ½; KWN, Up ½
· Greece negotiations stall, IMF reports no progress, walks out and flies back to the U.S.; June 30th payment deadline looms. Asia seems unaffected: Hang Seng rises 1.39%; Shanghai is up .87% and the Nikkei, +.12%. Europe markets are all weaker: DAX, -.06%; CAC 40, down .29% & FTSE, off .38%. U.S.: Greece and just how strong is the recovery?: Dow futures 29 lower; NAS, -10 ½; S&P, -3 ¾. Outside markets: gold is off $1.70; WTI is 60 cents lower and the $ Index is up .384 to 95.72
· T-storm Weather: Numerous rounds of rain and thunderstorms affect varying areas of the central / southern Plains and Corn Belt on each of the next five to seven days, inducing areas of field flooding. Highest coverage and amounts through the period occur in an arc from northwest Texas through Wisconsin where 2.00" – 4.00" and locally more is expected. Upper-level high pressure in the Southeast disrupts the pattern later next week. The position of the high allows waves of energy to continue to flow across the central and northern U.S. where near- or above-average rainfall is likely over June 17-24
· July Corn Down $.02 at $3.5450; Sep Down $.02 at $3.61. The funds were sellers of 2 K Thursday
· July SB Down $.0175 at $9.3825; Aug Down $.0350 at $9.1925. Funds sold 4 K SB; 1 K SBM and 3 K SBO
· July Wheat Down $.0125 at $5.0250; Sep Down $.0175 at $5.0975. The funds sold 4 K yesterday
CORN/SORGHUM ; ;    
· ATI Research: U.S. new-crop corn export sales were 4.5 mbu, which brings total sold for 15/16 to just under 92 mbu v. the 5-year avg. of 148 million (-38%). This is also the lowest amount of new-crop sold for this time of year since 2010
· Year-to-date U.S. sorghum export sales: 327.1 mbu (93.5% of USDA est). Outstanding sales: 58 mbu vs. 48 last year
· Crop consultant notes that harvesting of the Argentina corn crop continues to be slow at only approx. 40% complete
· T-storm Weather: Widespread coverage of near- and above-average rainfall is forecast from June 17-24 across the northern one-half to two-thirds of the central U.S. (especially along and north of Interstate 70)
SOYBEANS/WHEAT
· ATI Research: U.S. new-crop soybean export sales were 14.3 mbu, which brings the total sold for 15/16 to 194 mbu v. the 5-year avg. of 344 million (-44%). This is also the lowest amount of new-crop sold for this time of year since 2009
· Crop consultant notes that harvesting of the Argentina soybean crop is approaching 95% complete
· November 2015 soybean futures closed at $9.08 ¾ Thurs.; one year ago, November 2014 futures settled at $12.20 ¾
· ATI Research: Export sales of all wheat for 15/16 are 174 mbu vs. the 5-year avg. of 223 million (-22%) & a 5-year low
· T-storm Weather: 2.00”-4.00” of rain (& locally higher) affect HRW wheat in central/southern Plains through June 17
ENERGY
· Lower: CLN15, -$0.60 at $60.17; EBN, -$0.34; EBN-CLN, +4.59, +$.25, RBN, -$.0281; NGN, -$.032; HON, -$.0111
· Additional declines were seen in cash ethanol markets on Thursday: Chicago off 2; New York eased 1 ½; Gulf down ¾; Tampa lost 1; Dallas slipped 1 ¼; and LA was 3 lower at $1.64 per gallon
· RINs were firmer with gains of 2 7/8 seen for 2013, 2014 and 2015, respectively. All were quoted at 42 ¼-46
· The July RBOB/July Ethanol spread gained a penny+ to $.6471/gallon; trading a cent weaker this morning
LIVESTOCK/POULTRY <wbr>  
·   Choice boxed beef values declined 47-cents on Thursday at $247.19, and are $1.29 lower compared to a week ago
· Dressed steer weight for week ending May 30: 864 lbs, unchanged v. last week, 866.5 for 4-week avg. & 844 last year
· On Thursday, USDA mandatory pork carcass cutout was down 32-cents & at $85.90, is 9-cents lower vs. last week
· CME Lean Hog Index $0.25 lower at $81.91. June futures gained $0.075 to $81.375 but are $0.535 below the index
Sources: Bloomberg, Dow Jones, AP, T-storm Weather