Corn June 29, 2020
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Started by metmike - June 29, 2020, 12:26 p.m.

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

By metmike - June 29, 2020, 12:28 p.m.
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                Weather Monday            

                            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.    

By metmike - June 30, 2020, 1:31 p.m.
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Here's a quick seasonal chart of December #corn futures in 2020 versus the previous 5 years. The contract is trading up 15-16ish cents/bu right now following USDA's report.  2020 is the orange line, 2019 is the purple. Reddish one (the one that gets really low July/Aug) is 2016.


By metmike - June 30, 2020, 1:33 p.m.
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Tuesday  weather still bullish for corn:

USDA report a bullish shocker:

                USDA report June 30, 2020    

By metmike - July 1, 2020, 1 a.m.
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Funds were net short 277,479 fut+opt contracts of #corn on June 23. Trade estimates suggest they bought 73,000 futures contracts over Mon & Tues (after selling Wed-Fri). Next COT report covers the week to June 30, but we won't see that data until Monday (July 4 holiday).