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In the four-day week ended June 20, money managers erased a combined 100,000 gross short positions across CBOT corn, wheat, soybeans, soy products, Kansas City and Minneapolis wheat, the most for any week since August 2020. Money managers also added 45,000 gross longs last week, the most in four months and driven primarily by corn, where new longs outnumbered short covering. Net buying in soybeans last week was split between new longs and short covering, though funds’ latest moves in CBOT wheat and soybean oil were exclusively the result of short covering. They also increased their net long in CBOT soybeans to a two-month high of 76,950 futures and options contracts versus 47,882 a week earlier. Both new-crop corn and soybean futures rose more than 8% in the week ended June 20 amid near-record dryness in top-producing U.S. states.

Persons: Karen Braun, Lisa Shumaker Organizations: Environmental Protection Agency, parched, Reuters, Thomson Locations: NAPERVILLE , Illinois, Chicago, Kansas City, Minneapolis, CBOT, U.S, parched U.S, United States

Paris CNN —Six people remain in a critical condition and one person is missing after a gas explosion in central Paris on Wednesday, the Paris prosecutor’s office told CNN on Thursday. Francois Braun, France’s health minister, told CNN affiliate BFMTV Thursday that some of those injured are suffering from “extremely significant burns,” while others have suffered “significant traumatic injuries” due to the blast. Laure Beccuau, the Paris prosecutor said that early signs indicate that the gas explosion came from within the building that houses the Paris American Academy, according BFMTV. Paris American Academy, a fashion and design school, describes itself on its website as the “first bilingual design school” in the French capitalKent State University, in the US state of Ohio, said all its students at the Paris American Academy are safe and accounted following the blast. Another woman who didn’t want to give her name and lives in a neighboring avenue told CNN that her doors slammed shut from the explosion.

Persons: Rue Saint Jacques, Laurent Nunez, Francois Braun, ”, Gerald Darmanin, Laure Beccuau, Gonzalo Fuentes, Anne, Anne Hidalgo, Emmanuel Macron, “, ” Macron Organizations: Paris CNN —, CNN, Rue Saint, BFMTV, Paris American Academy, Kent State University, Reuters, Authorities Locations: Paris, Rue, Ohio, Élysée

Up to five of the 11 Crop Watch locations received no rain over the last week, and only one tallied 1 inch or more. Each week the Crop Watch producers assign condition scores to their fields on a 1-to-5 scale. Crop Watch conditions do not incorporate yield assumptions, which will come later in the season. Eight of the 11 Crop Watch corn fields carry a condition score of 4 or better as do seven of the soybean fields, though there are no perfect 5s. Photos of the Crop Watch fields can be tracked on my Twitter feed using handle @kannbwx.

Persons: Karen Braun, Robert Birsel Organizations: Crop, U.S . Department of Agriculture’s, North Dakota, Nebraska and, Reuters, Thomson Locations: FONTERUTOLI, Italy, United States, South Dakota , Nebraska, Illinois, Iowa, North Dakota, Nebraska, Indiana, Nebraska and South Dakota, Ohio, Minnesota, Kansas, Kingsbury , South Dakota, Freeborn , Minnesota, Burt , Nebraska, Rice , Kansas, Audubon , Iowa, Cedar , Iowa, Warren , Illinois, Crawford , Illinois, Tippecanoe , Indiana, Fairfield , Ohio, The North Dakota, Griggs County

SUPPLY AND DEMANDLast month, the U.S. Department of Agriculture’s initial stab at 2023-24 U.S. corn supply and demand got people talking. U.S. corn demand has been lousy lately and has struggled to compete with plentiful Brazilian supplies. But USDA’s 2023-24 corn demand assumptions are actually conservative by comparison. Year-on-year changes in U.S. corn supply and useCROP COMPARISONSThe corn harvest was record-large in 2013, and 2023 is expected to feature another high. U.S. corn conditions week 23 versus yieldKaren Braun is a market analyst for Reuters.

Persons: Karen Braun, Matthew Lewis Organizations: U.S . Department, USDA, Reuters, Thomson Locations: NAPERVILLE , Illinois, U.S, Chicago, Iowa, Illinois

Each week the Crop Watch producers assign condition scores to their fields on a 1-to-5 scale. Crop Watch conditions do not incorporate yield assumptions, which will come later in the season. The North Dakota corn is in Griggs County and the soybeans are in Stutsman. Photos of the Crop Watch fields can be tracked on my Twitter feed using handle @kannbwx. Crop Watch 2023 ProducersKaren Braun is a market analyst for Reuters.

Persons: Karen Braun, Matthew Lewis Organizations: Crop, U.S . Department of Agriculture’s, South, Kansas, Indiana, Producers, Reuters, Thomson Locations: NAPERVILLE , Illinois, U.S, North Dakota, Illinois, Indiana and Ohio, South Dakota, Minnesota, Iowa, Indiana, Ohio, Nebraska, Indiana , Illinois , Iowa, Kingsbury , South Dakota, Freeborn , Minnesota, Burt , Nebraska, Rice , Kansas, Audubon , Iowa, Cedar , Iowa, Warren , Illinois, Crawford , Illinois, Tippecanoe , Indiana, Fairfield , Ohio, The North Dakota, Griggs County

Gains across most-active CBOT futures in the week ended June 6 were as follows: corn 2.4%, soybeans 4.4%, wheat 6.2%, soymeal 1% and soyoil 10.2%. They also trimmed their net short in CBOT corn futures and options to 44,492 contracts from 51,065 in the prior week. Managed money net position in CBOT corn futures and optionsCommodity funds in mid-March established a net short in CBOT corn for the first time since August 2020, but they have not held a net short in soybeans since April 2020. Funds slashed their net short to 16,173 futures and options contracts from a record 31,110 a week earlier. Most-active soybean oil featured the biggest gains at 7.2%, and corn was the biggest loser with December down 1.9% and most-active corn down 0.6%, mostly on weekend rain expectations for the U.S. Corn Belt.

Persons: soymeal, Karen Braun, Diane Craft Organizations: Funds, Wednesday, U.S, Reuters, Thomson Locations: NAPERVILLE , Illinois, Chicago, CBOT soyoil, Midwest

☆ NBA Finals: Can the Denver Nuggets seal a first ever Championship?
▼ + stars: | 2023-06-12 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +5 min

CNN —The Denver Nuggets are on the verge of making history and winning their first ever NBA Championship but with the defiant Miami Heat standing in their way, anything is possible. Game 5 gets underway Monday at Ball Arena, Denver, and the Nuggets will be looking to seal the series in front of a home crowd. ‘We are ready’With the Nuggets just one win away from a first NBA Championship, it would be easy to start the celebrations too early, but this Denver team aren’t getting ahead of themselves just yet. The brilliant one-two punch of Jamal Murray and Jokić has been key for the Nuggets throughout the NBA postseason. The Heat have had to battle their way through the NBA Play-In tournament and then the playoffs as a No.

Persons: Nikola Jokić, Jamal Murray, ” Jokić, “, It’s, Jokić, AAron Ontiveroz, Michael Malone, what’s, ” Malone, we’ll, ”, Murray, Aaron Gordon, Bruce Brown Jr, Christian Braun, Matthew Stockman, won’t, Jimmy Butler’s, it’s, Butler, we’ve, ” Jimmy Butler, Wilfredo Lee, Erik Spoelstra, We’re Organizations: CNN, Denver Nuggets, Miami Heat, Ball Arena, Nuggets, NBA, ABC, Denver, aren’t, Denver Post, Los Angeles Lakers, Western, Getty, USA, Reuters Locations: Denver, Miami

☆ U.S. Congress to consider two new bills on artificial intelligence
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 8 (Reuters) - U.S. senators on Thursday introduced two separate bipartisan artificial intelligence bills on Thursday amid growing interest in addressing issues surrounding the technology. Lawmakers are beginning to consider what new rules might be needed because of the rise of AI. "We cannot afford to lose our competitive edge in strategic technologies like semiconductors, quantum computing, and artificial intelligence to competitors like China," Bennet said. Earlier this week, Senate Majority Leader Chuck Schumer said he had scheduled three briefings for senators on artificial intelligence, including the first classified briefing on the topic so lawmakers can be educated on the issue. read moreThe briefings include a general overview on AI, examining how to achieve American leadership on AI and a classified session on defense and intelligence issues and implications.

Persons: Gary Peters, Mike Braun, James Lankford, aren't, Braun, Michael Bennet, Mark Warner, Todd Young, Bennet, Chuck Schumer, Diane Bartz, David Shepardson, Alistair Bell Organizations: Homeland Security, Republican, Global, Thomson Locations: United States, China

CNN —Children were among six people injured Thursday in a knife attack in Annecy, in southeast France, triggering a wave of panic in the small alpine town. French police secure the area after several children and an adult were injured in Annecy. Denis Balibouse/ReutersFrench MPs hold a minute's silence after the knife attack in Annecy. Health Minister François Braun tweeted that his thoughts were with the victims of the knife attack. “All my thoughts go immediately to the people injured by an individual armed with a knife in Annecy, and to their loved ones,” Braun tweeted.

Persons: Elisabeth Borne, Gérald Darmanin, Ferdinand, “, ” Ferdinand, ”, George, Denis Balibouse, Ludovic Marin, Emmanuel Macron, ” Macron, François Braun, ” Braun, François Astorg, Astorg Organizations: CNN, French, Interior, BFMTV, Reuters, Getty Images, Annecy . Children, Health, Aid Service, Annecy, Lawmakers, French National Assembly Locations: Annecy, France, Haute, Savoie, AFP

☆ France stabbing: Four children wounded in Annecy knife attack
▼ + stars: | 2023-06-08 | by ( Gabrielle Tétrault-Farber | ) www.reuters.com time to read: +3 min

[1/5] French soldiers secure the area after several children and an adult have been injured in a knife attack in Annecy, in the French Alps, France, June 8, 2023. REUTERS/Denis BalibouseANNECY, France, June 8 (Reuters) - A Syrian national wounded four young children and an adult in a knife attack in a park in the southeastern French town of Annecy on Thursday, police said, and some of the victims were in critical condition. The wounded children were aged between 22 months and 3 years, they said. Witnesses said at least one of the children wounded in the attack was in a stroller. "Nothing more abominable than to attack children," National Assembly speaker Yael Braun-Pivet said on Twitter.

Persons: Denis Balibouse, Gerald Darmanin, Emmanuel Macron, Witnesses, Ferdinand, BFM, George, Yohan, Macron, Yael Braun, Pivet, Benoit Van Overstraeten, Geert De Clercq, Juliette Jabkhiro, Silvia Aloisi, Toby Chopra, Frances Kerry Organizations: REUTERS, Denis Balibouse ANNECY, Syrian, Reuters, Twitter, Lake, Thomson Locations: Annecy, French, France, Syrian, Lake Annecy, Reims

☆ Nikola Jokic's historic effort sends Nuggets past Heat in Game 3
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

Jokic became the first player ever to log at least 30 points, 20 rebounds and 10 assists in an NBA Finals game. He made 12 of 21 shots and blocked two shots as Denver bounced back from a Game 2 home loss. Murray scored a game-high 34 points to go with 10 rebounds and 10 assists for the Nuggets, who controlled the contest. Jimmy Butler scored 28 points and Bam Adebayo added 22 points and 17 rebounds for the Heat, who trailed by as many as 21 points. Braun converted a three-point play with 8:45 left and made a floater 17 seconds later to push the Denver lead to 93-72 with 8:28 to play.

Persons: Kevin Love, Jamal Murray, Kyle Terada, Nikola Jokic, Jokic, Murray, Christian Braun, Aaron Gordon, Jimmy Butler, Bam Adebayo, Hall, Hall of Famers Wilt Chamberlain, Kareem Abdul, Jabbar, Caleb Martin, Gordon, Kentavious Caldwell, Pope, Braun, Adebayo Organizations: Miami Heat, Denver Nuggets, Kaseya Center, NBA, Denver, Nuggets, Miami, Hall of Famers, Heat, Thomson Locations: Miami , Florida, USA, Denver

☆ Matt Onofrio quickly made millions as a real-estate influencer. Then he was indicted for bank fraud.
▼ + stars: | 2023-06-04 | by ( Matt Turner | ) www.businessinsider.com time to read: +6 min

That was the verdict a top tech executive shared with me recently, describing the impact he predicted AI would have on the workforce. The unfolding situation has the potential to cast Onofrio as a real-estate confidence man for the influencer age. Also read:Wall Street's new normalPeople walk by a Lamborghini car along Wall Street in Manhattan. In that environment, any fool — or anyone on Wall Street — could buy almost any asset, sit back, and watch its value increase. Wall Street is hoping that — and investing like — we're going back to that era sometime soon.

Persons: Matt Turner, Nicholas Braun, Greg Hirsch, AI's, Lance McMillan, Matt Onofrio, he'd, Spencer Platt, There's, Insider's Linette Lopez, ANDREW CABALLERO, REYNOLDS, OPMs, Spriha Srivastava, OpenAI, Nicole Miranda, Elizabeth Holmes, Hallam Bullock, Bob Bryan, Hana R, Alberts Organizations: Toronto Star, Getty, Lamborghini, Getty Images, Tech Locations: California, Midwest, Manhattan, Washington ,, Florida

Production had never exceeded 100 million prior to 2017, though USDA sees the 2024 crop jumping to another new high of 163 million tonnes. Current economics suggest 2024 soybean profitability in Brazil could return to the lower levels of the late 2010s, when the average yearly area expansion was below 3%. Brazilian farmers have been slow to sell the 2023 soy crop amid easing prices, and 2024 may be less exciting. China’s soybean consumption had been rising more than 8% per year in the mid-2010s. Chinese soybean demand: consumption and importsKaren Braun is a market analyst for Reuters.

Persons: Mato, Karen Braun, Matthew Lewis Organizations: U.S . Department of Agriculture, USDA, Reuters, Thomson Locations: NAPERVILLE , Illinois, China, Americas, Brazil, BRAZIL, United States, Argentina, CHINA

That is the lowest initial corn rating since 59% GE in 2019 and below the five-year average of 71%. The timing of initial corn conditions depends on emergence and has spanned May 24 to June 9 in the latest five years. Since crop conditions began in 1986, all but one of the strong U.S. corn yields coincided with initial ratings above 70% GE. Initial U.S. corn conditions and yieldHigher crop ratings have not always led to success. The highest-ever initial corn rating of 81% in 1991 preceded a very poor crop as the critical months of July and August were much too dry.

Persons: Corn, Beans, Karen Braun, Matthew Lewis Organizations: U.S . Department of, GE, Nebraska, Reuters, Thomson Locations: NAPERVILLE , Illinois, U.S, Iowa, Illinois, Indiana, Nebraska, , Minnesota, North Dakota

Soybeans are the only U.S.-traded grain or oilseed in which funds’ net long has persevered since 2020, though money managers have been bullish soybean meal since late 2021. Most-active CBOT soybeans fell 3% in the week ended May 23, at one point trading at the lowest levels since last July. Money managers that week cut nearly 20,000 contracts from their CBOT soybean net long, which fell to 4,147 futures and options contracts. Managed money net position in CBOT soybean futures and optionsMost-active soybeans have shed more than 12% this year, more than in most years, though they bounced 1% over the last three sessions. Money managers extended their net short in CBOT wheat futures and options to 118,788 contracts from 112,769 a week earlier.

☆ In ‘Succession,’ Tom and Greg Were Never Playing the Long Game
▼ + stars: | 2023-05-29 | by ( Alexis Soloski | ) www.nytimes.com time to read: +1 min

I genuinely don’t know what he wants any more than I know what I want. Do I need to feel this bad at work?” I also don’t know if he’s going to cut my salary. Walking down the hall, every office: “You’re fired.”Why do you think Shiv sides with Tom over her brothers, Kendall and Roman? She just looks at Kendall and thinks, “I can’t.” I don’t think she made a rational decision. And then there’s this beautiful stage direction that Jesse wrote in the script of Tom and Shiv in the car.

☆ None of the Roy children deserve to succeed Logan but I'm hoping it's Shiv
▼ + stars: | 2023-05-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

There are really no good choices for who should succeed Logan Roy in "Succession." She also fakes authenticity — a power move, one expert told Insider. The show revolves around the deeply dysfunctional Roy family and the jockeying to succeed Logan Roy, the recently deceased patriarch played by Brian Cox, as head of the family media empire, Waystar Royco, loosely based on Fox News and News Corp. "Shiv seems to be a person who gets relationships," Gino told Insider. The media baron and inspiration for Logan Roy, Rupert Murdoch, the head of News Corp, also has stirred speculation over which of his children might succeed him at the top of the home of Fox News.

Records date to 2012, when 15% of corn areas were in at least moderate drought by this same week. Percent of U.S. corn in drought, May versus JulyAround the same date in 2014, 2021 and 2022, moderate drought coverage spanned between 20% and 24% of U.S. corn areas. The central Corn Belt, including Iowa and Illinois, was very wet in May 2013 and mid-month corn planting in those states was very slow, though planting was quicker than normal this year. El Nino never formed in 2012, though it did in late 2014, sticking around throughout 2015 and leading into the 2015-16 super El Nino. Strong U.S. corn yields occur more frequently during El Nino versus La Nina, though El Nino does not guarantee that outcome.

☆ Do You Have What It Takes to Be Kendall Roy’s Assistant?
▼ + stars: | 2023-05-26 | by ( Callie Holtermann | ) www.nytimes.com time to read: +1 min

Ms. Nagel said she had enjoyed learning to solve the problems of the ultrarich. The dog spent a week at sea being doted on by Ms. Nagel and the ship’s crew while the family ignored him. A week later, Ms. Nagel said, she found a family ashore to adopt the Pomeranian. “She starts to want to speak her mind a little more this season, but she’s still an assistant,” Ms. Canfield said in an interview at the Season 4 premiere. Other onscreen assistants expose viewers to workplace sexism (Julia Garner in “The Assistant”) and racism (Rex Lee in “Entourage”).

Most-active CBOT soybean futures shed 3.6% through May 16, and funds added gross shorts for a sixth consecutive week. That could mean money managers at Friday's close were net short soybean futures and options for the first time since April 2020. They have not held a net short for two or more consecutive weeks since March 2020. Money managers' all-time soybean net short of 168,835 futures and options contracts was set on May 14, 2019. CBOT wheat futures had been rallying mid-month due to uncertainty over the Black Sea grain deal, though Russia on Wednesday agreed to a two-month extension, allowing Ukraine to continue exports by sea.

☆ The mourning dress codes of ‘Succession’
▼ + stars: | 2023-05-22 | by ( Jacquelyn Palumbo | Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

“Succession” has treated us to both a wedding and a funeral as fate of the Roy siblings spin out towards its finale (which is produced by Warner Bros. Discovery, parent company of CNN), and its penultimate episode gave us mourning dress codes in a grand Catholic setting. “I can do anything — my dad just died,” Shiv responds when asked for a favor at the mass. By episode nine, with the company in a shaky post-Logan transition, the optics of how the Roy siblings perform at the funeral hold a lot of weight. Emotions must be stamped down, they maintain a fragile façade, and getting too close to the truth of Logan Roy is met with a wall of cognitive dissonance.

The Kansas wheat tour and its findings always prompt these questions: How does the tour yield compare with USDA’s May forecast? Since 2005 and including 2023, USDA’s May estimate for Kansas winter wheat yield was lower than the tour yield in all but three years: 2010, 2018 and 2019. USDA's May Kansas wheat yield vs tour yieldBefore 2021, the tour was always held before USDA’s May report, but it now takes place after. Compared with final Kansas winter wheat yields, the tour yields have been streaky. Kansas winter wheat yield: tour versus finalFinal Kansas wheat yield has come in higher than USDA’s May forecast in 11 of the last 15 years.

NAPERVILLE, Illinois, May 17 (Reuters) - Chicago December corn futures on Wednesday traded below $5 per bushel for the first time since 2021, supportive for those who believe new-crop corn has already inked its yearly high. The average price of December corn during February, which represents the insurance guarantee to U.S. corn farmers, is not too impactful for the futures market itself. New-crop corn is already breaking the ranks in terms of downward momentum. Almost three-quarters of the years featured higher new-crop corn prices versus February at some point from July 1, and that happened beyond Oct. 1 half the time. But 2013, which has been compared with 2023 for corn, featured one of the narrowest-ever margins.

Plenty of uncertainty around global wheat production and trade remains, especially in the Black Sea, since 2023-24 grain crops are far from settled. Wheat SU among major exporters in May 2022 was pegged at a 15-year low of 13.5% for 2022-23, expanding to 13.75% by February 2023. This SU trend in major wheat exporting countries is not exclusive to 2022-23. USDA has 2023-24 Ukraine wheat production at 16.5 million tonnes with exports at 10 million, down from 20.9 million and 15 million in 2022-23, respectively. OTHER HOTSPOTSIn top exporter Russia, USDA shows 2023-24 wheat production down 11% from last year's record, though exports are seen edging up 2% to a new high.

Crop Watch farmers have mostly wrapped up their planting except for in North Dakota, where recent rains have already reduced the producers’ corn acreage plans. The North Dakota producer, located in the east central part of the state, has not yet started field work. This issue does not extend throughout the whole state, but the Crop Watch producer estimates roughly half the state faces his same situation. The North Dakota producer needs several sunny and windy days to prepare the fields, which could be in store. Crop Watch planting dates May 15Karen Braun is a market analyst for Reuters.

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