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.
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
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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!
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
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 rain