DTN Weather Trend Indicators 05/31 06:16 Weather Indicator status values are: Corn=Neutral Soybeans=Neutral Wheat=Down LEGEND: The indicator choices are: Corn, Soybeans, Wheat The status choices are: Up, Down, Neutral For example: Corn=Neutral

DTN Early Word Grains 05/31 05:40 Crop Prices Remain Under Bearish Pressure Early Wednesday December corn is down 8 cents, November soybeans are down 13 cents and July KC wheat is down 12 cents. Todd Hultman DTN Lead Analyst EARLY MORNING GLOBEX NET CHANGES: December corn is down 8 cents, November soybeans are down 13 cents and July KC wheat is down 12 cents. CME GLOBEX RECAP: Early Wednesday, U.S. stock futures are trading lower, in line with lower stocks in Europe and Asia. Traders are waiting to see if Congress will approve a higher debt ceiling with a vote in the House expected Wednesday evening. The Federal Reserve's Beige Book will be released at 1 p.m. CDT, possibly holding clues on interest rates ahead of the Fed's June 14 rate announcement. OUTSIDE MARKETS: Previous closes Tuesday showed the Dow Jones Industrial Average down 50.56 at 33,042.78 and the S&P 500 Index up 0.07 at 4,205.52. The 10-Year Treasury yield ended at 3.70%. Early Wednesday, June Dow Jones futures are down 75 points. European markets are lower with the spot futures of the London FTSE 100 trading down 0.17%, spot futures of Germany's DAX trading down 0.28% and spot futures of France's CAC Index trading down 0.40%. Asian markets are also lower with Japan's Nikkei 225 index down 1.41% and China's Shanghai Composite Index down 0.61%.

FARM MARKET NEWS - SOYBEAN AND WHEAT REPORT FOR Tue, May 30 Exchange rate was 1.3597 up 0.0017 Chicago soybeans closed moderately lower to lower. AUG23 HI 12.61 1/4 NOV23 HI 11.91 1/2 LOW 12.16 1/2 LOW 11.51 CLOSE12.19 1/2 Down 41 1/2 CLOSE 11.53 1/4 Down 36 1/4 OLD CROP NEW CROP Location Basis 1mt 2mt 3mt U.S. $/bu $/mt Basis U.S. $/bu $/mt ELEVATORS +AUG23+AUG23+AUG23 CK Low 4.79 16.99 624.09 2.90 14.43 530.30 CK High 5.12 17.32 636.22 3.00 14.53 533.98 CK Average 4.88 0.36 17.08 627.40 2.94 -0.89 14.47 531.83 Essex Cty 4.85 17.05 626.30 2.95 14.48 532.14 Mdsx Low 4.77 16.97 623.36 2.85 14.38 528.47 Mdsx High 4.85 17.05 626.30 2.92 14.45 531.04 Mdsx Average4.82 0.32 17.01 625.10 2.89 -0.92 14.43 530.03 Hensall 4.82 17.01 625.07 2.90 14.43 530.30 Bruce 4.80 17.00 624.46 2.90 14.43 530.30 Putnam 4.85 17.05 626.30 2.90 14.43 530.30 Burford 4.87 17.07 627.03 3.02 14.55 534.71 Port Perry 4.71 16.91 621.15 2.86 14.39 528.83 Norfolk 4.85 17.05 626.30 2.95 14.48 532.14 Palmerston 4.80 17.00 624.46 2.90 14.43 530.30 Varna 4.80 17.00 624.46 2.90 14.43 530.30 Trenton 4.90 17.10 628.13 2.90 14.43 530.30 Winchester N/A 3.20 14.73 541.33 North Gower 4.92 17.12 628.87 3.20 14.73 541.33 Vankleek Hil4.92 17.12 628.87 3.19 14.72 540.96 Huron FOB 4.94 5.21 5.21 5.28 17.14 629.60 N/A Kent FOB 5.05 17.25 633.65 2.95 14.48 532.14 Lambton FOB 4.73 16.93 621.89 N/A Mdsx FOB 5.06 5.19 5.33 N/A 17.26 634.01 3.14 14.67 539.12 PROCESSORS Windsor 5.49 17.69 649.81 3.62 15.15 556.76 TRANSFER Hamilton 5.40 17.60 646.51 3.60 15.13 556.02 Prescott N/A 3.57 15.10 554.92 Port Colborn N/A 3.66 15.19 558.23 Toledo El. 1.35 13.54 497.55 -0.61 10.92 401.26 Exchange rate was 1.3597 up 0.0017 Chicago wheat closed moderately lower to lower. JUL23 HI 6.16 3/4 JUL23 HI 6.16 3/4 LOW 5.88 3/4 LOW 5.88 3/4 CLOSE 5.91 Down 25 CLOSE 5.91 Down 25 Minni wheat closed lower. JUL23 HI 8.21 SEP23 HI 8.19 1/2 LOW 7.88 1/4 LOW 7.90 1/4 CLOSE 7.93 Down 25 CLOSE 7.94 1/2 Down 24 3/4 Direct MarkHarvest 2022 Harvest 2023 DELIVERED BASIS DELIVERED BASIS Location SWW(C) HRW(C) SRW(C) HRS(M) SWW(C) HRW(C) SRW(C) HRS(M) ELEVATORS Brgssvll N/A N/A 1.30 N/A N/A N/A 0.85 N/A London 2.09 1.62 1.21 N/A 2.30 1.41 0.87 N/A Hensall 2.60 2.00 1.30 1.60 2.50 1.55 0.85 1.35 Trenton N/A N/A N/A N/A N/A N/A 0.85 N/A Bruce 2.30 1.80 1.30 1.25 1.85 1.35 0.85 1.15 Essex N/A N/A 1.30 N/A N/A N/A 0.85 N/A Norwich N/A N/A 1.30 N/A 2.65 N/A 0.85 N/A Belmore 2.50 1.65 1.30 1.15 2.00 1.50 0.85 1.15 Kent Bridge N/A N/A 1.30 N/A 2.65 N/A 0.85 N/A Chatham N/A N/A 1.30 N/A N/A N/A 0.85 N/A Brigden N/A N/A 1.30 N/A N/A N/A 0.85 N/A Palmerston 2.30 1.80 1.30 1.25 1.85 1.35 0.85 1.15 Varna 2.60 2.00 1.30 N/A 2.50 1.55 0.85 N/A Mitchell N/A N/A 1.30 N/A 2.65 1.60 0.85 N/A Thornton 2.09 1.62 1.21 1.53 2.30 1.41 0.87 N/A North Gower N/A 1.00 1.30 1.42 N/A 0.90 1.10 1.17 W O Feed 2.07 TERMINAL Port Colbor N/A N/A 1.88 N/A N/A N/A 1.41 N/A PROCESSORS Toledo FM N/A N/A N/A N/A N/A N/A 1.92 N/A Toledo El. 5.66US 7.70CA 5.66US 7.70CA (C)-Basis over the Chicago Board of Trade futures (M)-Basis over the Minneapolis Grain Exchange FEED GRAINS FOB Hm Soymeal 642.22 DDG's FOB Aylm 335.00

DTN Closing Grain Comments 05/30 13:51 Back From Three-Day Weekend, Crop Prices End Sharply Lower Except for rain in the western Plains, most crop areas stayed warm and dry over the weekend, favorable for planting progress. New-crop contracts of corn, soybeans and all three U.S. wheats suffered big losses Tuesday with scattered chances for rain this week that continue to favor western areas. Todd Hultman DTN Lead Analyst GENERAL COMMENTS: July corn closed down 10 cents and December corn was down 9 1/4 cents. July soybeans closed down 40 3/4 cents and November soybeans were down 36 1/4 cents. July KC wheat closed down 35 1/2 cents, July Chicago wheat was down 25 cents and September Minneapolis wheat was down 24 3/4 cents.

DTN Midday Grain Comments 05/30 10:53 Corn, Soybean, Wheat Futures Lower at Midday Corn futures are 8 to 14 cents lower at midday Tuesday; soybean futures are 26 to 32 cents lower; wheat futures are 20 to 33 cents lower. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: Corn futures are 8 to 14 cents lower at midday Tuesday; soybean futures are 26 to 32 cents lower; wheat futures are 20 to 33 cents lower. The U.S. stock market is mixed with the S&P up 2 points. The U.S. Dollar Index is 10 points lower. Interest rate products are firmer. Energies are weaker with crude 2.70 lower and natural gas off .11. Livestock trade is sharply higher. Precious metals are mixed with gold off 15.50. CORN: Corn futures are 8 to 14 cents lower at midday with spread action remaining firmer. Spillover negativity is dragging action lower after early two-sided trade while we wait for further weather forecasts. Ethanol margins have faded a little with corn and unleaded lower. Weekly export inspections improved at little at 1.313 million metric tons (mmt). Basis continues to hold a softer tone as fieldwork slows into June. The second crop in Brazil continues to head toward the home stretch with cheap enough offers to control export business. Weekly crop progress should show planting near the end with first conditions in line with recent years, while trade waits for rains to move to the Eastern Corn Belt. On the July chart we have support at the 20-day moving average at $5.83 with the Upper Bollinger Band at $6.11. SOYBEANS: Soybean trade is 26 to 32 cents lower at midday with action turning back lower. Product values continue to slide, keeping selling pressure on the market despite steady to firmer spread action. Meal is $4.00 to $5.00 lower, and oil is 215 to 235 points lower. Weekly export inspections remained soft seasonally at 239,736 metric tons (mt). Basis will likely remain a little softer as fieldwork catches up more. Weekly crop progress is expected to show planting and emergence remaining ahead of the five-year average. July chart support is the $13.00 area with the lower Bollinger Band just below that at $12.85. The 20-day moving average is still well above the market at $13.72. WHEAT: Wheat futures are 20 to 33 cents lower at midday with Chicago still leading. Spread action continues to unwind up front with early harvest on the Plains likely to be slowed by the recent rains, while spring wheat planting wraps up. Little fresh news has been seen on the world front. European and Black Sea wheat is moving forward in the growing season and no major political changes. The dollar is just off the recent highs, with Matif wheat softer to start the week. Weekly export inspections were in line with recent weeks at 382,031 mt. Weekly crop progress should show winter wheat conditions slightly better with heading at average, while spring wheat emergence will continue to lag the five-year average. On the KC July Chart, the lower Bollinger band at $7.59 is support, with $8.00 becoming the first level of resistance. David Fiala can be reached at dfiala@futuresone.com Follow him on Twitter @davidfiala (c) Copyright 2023 DTN, LLC. All rights reserved.