Clear 3.38 and stay above the ML you get a good chance at 3.52. Both MLS point to the same. Blow through that into the second tier you get 3.70 because of Newton’s third law.
Corn went to the halfs of last weeks range. I would be surprised if we make new highs today. Maps do show less rain and more heat coming and its going to be July
17 responses |
Started by metmike - June 29, 2020, 10:45 a.m.
9th day of Summer 2020!
Monday update: Weather still bullish natural gas(and grains, especially corn)..........the EIA report on Thursday was the most bearish in history and we have coravirus worries but it's just too hot to ignore today! Location of the heat ridge in July is a key. Recently, its NOT been in the East and South where tons of people live. This will be imperative for any potential, against the trend ng rallies. The most heat has been in the Plains where not many people live. Week 2 really strengthens the heat ridge/dome in the S.Plains with 100+ temps in July. How much will it expand and where will determine affects on ng and grains. If the heat ridge retrogrades farther west, it becomes less bullish.
More decent rains coming for grains during the next few days. Some areas will miss. However, there will be a drying trend in the Central Cornbelt, back to the S.Plains that will start in the middle of the week and may continue well into July. Location of the dome in July will make the difference in price of grains by double digits!
Heat fill coming up for corn June 25, 2020
12 responses |
Started by metmike - June 25, 2020, 7:52 p.m.