The currency pair EUR/USD decreased to 1.1858. The price of US WTI crude oil rose to 73.47 USD/barrel.

Oil ended its best half-year since 2009 as recovery from the pandemic increased fuel costs. The U.S. Petroleum Institute (API) said crude oil stocks in the United States decreased by 8.15 million barrels last week.

Yesterday, CBOT September SRW wheat futures prices rose by 33 1/4 cents to close at $6.79 1/2 a bushel. The ​​winter wheat areas in the United States for 2021 reached 33.683 million acres compared to 30.1 million acres in the March estimate and 33 million acres expected from the market now. Wheat stocks in the United States as of 01.06.2021 were 22.95 million tons, which is slightly below expectations. Wheat stocks are below expectations and this compensates for the growth of the areas. By the end of the week, trading will be key and will show how the market would react to weather forecasts for the next 1-2 weeks and the data from the reports. Weekly export sales of wheat from the United States are expected within the range of 200,000 - 500,000 tons.

Yesterday, Chicago December corn futures prices rose by 40 cents to close at $5.88 1/2 a bushel. In 2021, corn areas in the United States are projected at 92.692 million acres, which is below the average expected market value of 93.78 million acres. As of June 1, 2021, corn stocks in the United States were 104.4 million tons, which is slightly below the average expected value. Corn consumption in the United States over the period of March - May reached 93.98 million tons. With a corn yield of 175 bushels/acre, corn production will be 377 million tons. Given that the growth of the area compared to the March report comes from the states of South Dakota and North Dakota, where yields are generally low, and this year the drought there is at a record intensity, a significant increase in the production can not be expected. Corn areas in North Dakota rose by 84.6% compared to 2020 to a total of 3.6 million acres and corn areas in South Dakota increased by 21.2% to a total of 6 million acres. Over the next 10 days, temperatures in both states will be at record highs without precipitation. Weekly US corn export sales are expected to be in the range of -100,000 - +4,000,000 tons of old crop and 150,000 - 650,000 tons of the new corn crop. During the week, ethanol production in the United States increased by +1% compared to the previous week and by +17% compared to last year. The cold threatens the corn crop in southern Brazil. 2.5 - 5.1 million tons of the corn production are now at risk.

Yesterday, CBOT November soybean futures prices increased by 86 1/2 cents to close at $13.99 a bushel. The forecast for soybean areas in the United States for 2021 was below market expectations and this supported prices. Increased prices of soymeal and soyoil also supported prices. The reports on quarterly stocks and areas turned out to be unexpectedly price-friendly and the sector exploded. The unfavorable conditions for crop development in certain parts of the United States - drought and rainfall - immediately came to the fore. As of June 1, 2021, soybean stocks in the United States were 20.86 million tons. Soybean consumption in the United States for the period March-May reached 21.6 million tons. In 2021, soybean areas in the United States are projected at 87.555 million acres compared to the expected 89.1 million acres. With a yield of 50 bushels/acre, soybean production will reach 118.5 million tons. As with corn, soybean areas increased mostly in North Dakota by 11.1% to 5.5 million acres and in South Dakota by 25.2% to 7.2 million acres. Soybean stocks in the United States remain below expectations and confirm the trend of increasing deficit. These states are experiencing record drought and forecasts do not point to anything good. Weekly export sales of soybeans from the United States will be at the level of -100,000 + 300,000 tons of old crop and 1-2 million tons of the new soybean crop. Weekly sales of soymeal will be within 150,000 - 675,000 tons of old crop and 125,000 - 275,000 tons of new crop and weekly export sales of soyoil are expected within 0 - 15,000 tons.