Grains Friday
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Started by metmike - July 27, 2018, 10:27 a.m.

For the weather that effects grain trading, go here:

https://www.marketforum.com/forum/topic/8835/


Heat ridge over the belt as week 2 evolves on overnight GFS operational model.


Big rains first in Southern belt but Northern belt is dry in week 1.

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By metmike - July 27, 2018, 10:42 a.m.
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Corn has rebounded 27c from the lows early this month and is 50c below the highs from the end of May.


Corn historical perspective:

Who remembers $8 corn not so long(5 years) ago   

Lows are in? 22c off the lows and 56c below the late May highs. 

3 month below


1 year below

                   

5 year below                

                   

 10 year below                

                   
By metmike - July 27, 2018, 10:43 a.m.
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Soybeans: Wider perspective:

Almost 50c off the lows......which were 10 year lows.

Around $1.75 below the highs from late May.

Soybeans 3 months below

                   



Soybeans 1 year chart below   

                   
                    


Soybeans 5 years below



Soybeans10years-Wow, look at that high from the drought of 2012...and demand, currently at 10 year lows!

                   
By metmike - July 27, 2018, 7:31 p.m.
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SS,

Not sure why your post today on soybeans was in the Grains Friday thread ........from a week ago but I copied it here too..............so you get 2 posts for the price of 1 (-:

Thanks for contributing!


                By silverspiker - July 27, 2018, 9:56 a.m.            

            

                           

The soybean market yesterday was jerk jacked and November should be around 9:16 stop  close only for buy stops on the close ....I decided to get long last night when my business comrade called up and said we have been jerk jacked...so go ahead and get long the beans and nail the landing on the close like olga korbet style

By metmike - July 27, 2018, 8:05 p.m.
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There is a ton of rain on this updated rainfall total map but it misses some key soybean areas............the Dakota's/MN and even much of IA. 

I will guess that how far this rain goes(forecast) on Sun/Mon will be a price determinant. If the rains shift farther north, and hit almost the entire Corn(Bean) belt, its hard to imagine corn and beans going higher...........without positive news on the tariff wars.

A little item about the tariff issue can have a much more powerful effect on bean prices than any weather though. 

There is a ton of rainhttps://www.wpc.ncep.noaa.gov/qpf/p120i.gif?1532735473