ACRES................ The weekly export sales report Thursday for corn showed 291,000 metric tons was sold the week prior. It's clear that our government is slowing exports near-term until the crop yields are some what determined at the end of July as the current drought shows no sign of stopping. Last year spring floods and hot dry July coupled with the overly aggressive export pace left us with ending stocks this year of 851,000 metric tons or about a 50 day supply. So expect slow exports to show up until August at the earliest. Bean exports for the week were 792,000 metric tons old and new crop year combined. China was in for 400,000 of the total versus the two prior weeks of 535 and 740. It suggests a slowing of demand but with South America sold out, the US is the world's sole port of origin to buy beans from, so demand remains good. Weather remains 90% of the pricing for futures as we move through pollination, corns yield development time and mid-July through August 10 for beans key pod setting stage when yields are made or lost. In the big picture we look to continue warmer and drier than normal. It's been that way since last winter. But each weather update has some rain in the forecast and traders will trade each update as it adds or subtracts rain from the forecast. Rule of thumb for Sunday night openings. If we open higher we close higher. If we open lower, we close lower. Trade on that rule. When we enter the new month we also have to be aware that every month this year we traded higher as the month started into and before the release of the monthly USDA crop report, out on the ninth through 11th of each month. Reason, expectations that demand and usage will further cut ending stocks inventory. This report too, will further cut inventory as early-season drought should have traders looking for a lower yield estimate and production. Friday's USDA final planted acreage report showed 96.400 million acres of corn was planted up from the March report of 95.864 and the average pre-report estimates of 95.962. Bean acres were 76.100 versus the March report 73.902 and the average estimates of 75.575. Corn and beans were up $.12-$.15 when the report was released, then dropped to down $.12-$.15 as numbers were higher than expected, but only slightly. In large, the numbers were in line with the range of estimates. Next, the weather traders came in and bought the break driving corn and beans 20+ cents higher before settling back at midsession. Weather longs sold out yesterday ahead of the acreage report. Traders quickly said it's not what you plant but what you grow, how's the weather. Right now all weather models have some rain over the weekend of .50 to 1.3 inches largely over Wisconsin, Iowa, central and northern Illinois and Indiana. The driest areas of Southern Illinois, Indiana and Missouri will stay dry. 60% of the grain belt gets a marginal drink 40% gets worse. The 6 to 10 day Outlook lacks any heat dome effect but remains warmer than normal with drier than normal conditions. Should weekend rains fade, look for higher trade to start the week. It's all about the next weather update but keep in mind were in the sixth consecutive month of above normal temperatures and below normal rainfall. We have to assume the same in July, which normally is a wet month. Should July finish like June, 8.00 dollar plus corn and 17.00 dollar plus beans will occur. Reminder, I will be out of my office July 1 to 7. Tim Hannagan pfg