HIGHLIGHTS

• MARKET TREND—Lower CN, -$.0375; SN, -$.0850; WN, -$.0825; KWN, -$.11 
• MACRO:  A rising tide raises all ships—Friday’s better than expected U.S. jobs report--the domestic economy looks strong and over-riding trade concerns for the moment.  Asia—Positive: Nikkei, +1.37%; Shanghai, +0.52%; Hang Seng, +1.66%. EUROPE: Higher as well: DAX, +0.31%; FTSE, +0.70%; CAC, +0.47%.  WALL STREET: Futures indicate a solid start for the Street: DOW, +126; S&P, +9.75; NAS, +29.75. EXTERNALS: July crude: -$0.35 @ $65.46; Aug Gold: -$1.60 @ $1,298; $ Index: -.419@ 92.850

·       T-storm Weather: Rainfall amounts are increased for the next 10 days, bringing near-and above-normal rainfall of 1-2” for the period running from now through June 15^th. Temperatures will be warmer than normal  for corn, soybeans and spring wheat, but the rains will maintain adequate soil moisture levels. Rain amounts over the weekend were within expectations as a heavy amounts focused on/near much of eastern NebraskaFriday night. June 15^th forward looks like it should have a combination of above normal temperatures, mixed with periodic thunderstorms 

·       CN, down $.0375 @ $3.8775; CU, down $.0375 @ $3.9675.  The funds closed out the week by selling 7 K                 

• SN, dn $.1050 @ $10.1075; SQ, dn $.10525 @ $10.1575. Funds: 0 SB, sld 2 SBM; bot 2 SBO.  Board Crush: $1.45 , -$.04; LY: $.84
• WN, dn $.0850 @ $5.1475; WU, dn $.0850 @ $5.3225.  The funds sold 3 K on Friday             

   CORN/SORGHUM

·       Corn should be 95+% planted on Monday:  92% LW; 95% LY and 95% AVG

·       Corn ratings should hold steady or improve 1 point from LW’s 79% G/VG figure. Yield ideas certainly seem to have a steady to slightly higher bias despite June ridging talk

·       Corn export inspections released at 10 AM: 63-73 expected; 67.1 LW with 52.0/wk needed

·       NASS April Ethanol crush 445, as expected. Sep-April up 2.7% at 3.26 bbu, slightly ahead of the 2.6% increase forecast

SOYBEANS/WHEAT

• Consultant: SB planting expected to be 85% Monday, up from 77% LW and versus 81% LY and 75% AVG
• Initial SB ratings out on Monday with 78-80% G/E likely
• SB inspections expected at 19-27, versus 21.2 LW and 26.2 needed: Wheat expected at 15-22, 15.8 LW
• Winter wheat conditions expected to improve a point to 39%, 10 points below LY and versus 43% for the 5-year average.  Spring wheat ratings expected to be around 70% +/-, versus 55% LY and 68% AVG
• April SB Crush was neutral at 171.6 (trade: 171.6) with SBO stocks slightly negative at 2.689 bil lbs (trade: 2.600)

ENERGY

·       Lower: CLN18, -$.35 @ $65.46; EBQ, -$.80 @ $75.99; EBQ-QCLQ, -$0.44; RBN, -.0034;NGN, +.010; HON, -.0152

·       Friday, cash ethanol markets were slightly weaker: Chicago was quoted at $1.415, off .0060;  Basis to Chicago—New York, +$.1135; Gulf, +$.1085; Dallas, +$.0735; Tampa, +$.1985; and LA, +$.2435 

·       Ethanol RINs were firmer Friday: 2017’s rose 1 ¾ to 17-18 ½ and 2018’s were ¾ higher at 21-23 ½

·       The July RBOB/June ethanol spread lost $.0179 on Friday, slipping to +$.6814/gallon

  LIVESTOCK/POULTRY                           &nb​sp;         

• Choice boxed beef values eased 67-cents on Friday to $227.53 and are $1.47 lower compared to the prior week
• Fairly active cash cattle trading developed on Friday in the North, with most sales at $111—up $1.25 vs. last week
• USDA mandatory pork carcass cutout value fell $1.97 on Friday to $75.07 but is up $2.17 vs. a week ago
• CME Lean Hog Index firmed $0.38 on Friday to $70.01.  June futures gained $0.975 and are $7.59 above the index

Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weather