U.S. Midwest Heat + U.S. Corn Pollination Issues = Fund Short Covering Rally

[AgrivilleAdmin]

Ag Commodity Corner+ podcast

A high-pressure ridge “Heat Dome” is forecast for mid next week over the heart of the U.S. corn Belt, U.S. corn pollination issues from early April planted corn and high nighttime temps from the last 30 days.
More rain is forecast for the Canadian Prairies over the next 2-weeks from 1-3 inches.

Trump announced 30% tariffs 2 of the U.S. largest U.S. trading partners the EU and Mexico effective August 1.

Soyoil futures break out above resistance at $55 while corn futures put in a reversal higher.

Trump was looking to fire Powell; U.S. passed the first crypto legislation this week and the removal of high corn fructose syrup in Coke.

[makar]

1 to 3 inches? Who writes this crap?

[seldomseen]

Moe knows nothing more than the rest of us.,
Back at the end of June when wheat reached it high for the year I listened to one of his podcasts. He went on about all the problems the wheat crop was having.
Dryness in Western Canada.
Dryness in Russia.
Constant rain on the American wheat crop and flooded crops.
He thought the wheat market was ready to head higher.
Reality wheat has dropped hard ever since!

[shtferbrains]

Sure hope he's right on the rain.
Been watching a lot of empties rolling by here since late June.

Forecast has it backed off from a 2 day soak to now very little to none.