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07-17-2017 07:21 AM - edited 07-17-2017 07:22 AM
What is the story MT? Farmers planted too many corn acres again, and the weather just refused to do enough damage to matter? Kind of what it is looking like so far.
Bottom line is the rain event forecast for Thur/Friday in IA is all the marbles. Today's low must hold. The setup is bullish, we just tested the breakout at 3.83, so let's see what happens.
With the wheat bull market being over, it will be tough for corn/beans to rally IF this rain event fulfills or exceeds expectations, it is July 17th with no moisture stress right? :-)
07-17-2017 07:28 AM
Based on latest push this dome may push it all into MN and WI
We shall see
I've had 3-7 inches of rain in the last 18 days, but I bet I can show you some pretty stressed looking corn and beans out my back door by Saturday afternoon.
Heat kills yield regardless of moisture.
07-17-2017 07:28 PM
Checked some mid April corn today. Pushing into roastin ear stage already. Heat is pushing too hard and I've got a full profile. Still a touch of color in between the rows this AM.
We are sub 160 at this point and maybe sub 155 soon. Keeps this up into August and we go sub 150.
At some point the market will care. And as stated a fair amount already, combines will really drive this rally.
At this point we haven't even had a rally.
As mentioned. A watched pot never boils until it does. Everyone is watching these maps by the hour and can't see the forest for the trees