Weather market time

Overnight- Markets are softer overnight as we trade the last session of the week.

We are moving into peak weather market time of the year and much of the Midwest will have temperatures in the 90’s next week with lows in the 70’s.

We have a much better soil moisture situation than the last two years but does that mean the market will completely ignore the heat?

China is experiencing 100+ degree temperatures across 1/3 of its corn growing area.

Basis is exploding in certain areas of the WCB as the export corridor is competing with feedlots and ethanol plants.

Will the farmers continue to hold strong or is the corn just that out of position?

Bottomline

We may have a soft day to finish the week as weekly longs take profit and wait to see what the forecast looks like coming out of the weekend. We need to be ready for some quick pops in the next few weeks to get some grain sold or hedged. NFC Grain Comments Options -new (64)