The volatility that has in engulfed the commodity world the last 18 months due to various factors such as COVID-19, energy wars, and adverse world weather has been unprecedented.
The grain markets are no exception, in particular the last 60 days, in which the market lives and dies on the next weather forecast, crop conditions and export announcements. As supplies have tightened over the last couple of years, it becomes easier and easier to create a ledger balance of both positive and negative factors that can affect price, some in a very meaningful way.
As the July 4 weekend approaches, traditionally a turning point for corn and soybean prices, one can only wonder if the high for the year is in place, or if the bull market is just starting.
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Related: For a review of the planted acres, stocks and the upcoming July 12 WASDE, register for the Iowa Farm Bureau webinar (July 13 at 1:00) with AgriVisor Analyst, Karl Setzer. To register and for more information, please click here.