Modest Rains in the Dakotas
Corn and soybean futures weaker overnight as some rains hit the Dakotas and parts
of Minnesota with some decent coverage and totals from .25 to 1.25”. Yesterday’s
report was overall neutral to slightly bullish but tonight’s move shows how the
weather is A#1 until the acres report at the end of the month. It looks like the 2
week forecast is still dry and concerns will start to rebuild starting next week.
Markets will be moving quickly and violently during this time period. Both
producers and end users will have to be nimble and ready to pounce as there will
opportunities showing up quickly and then being gone. Weather going forward
should be supportive next week and the gyrations should be expected.
See attached report for more information on outlooks, technicals, and weather updates.
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