Wednesday June 9, 2021

  • What is a sure way to put the breaks on a drought rally? A rain 
  • Scattered rains in the North West corn belt provide some relief however the majority of the belt remaining dry 
    • Forecasts remain the same through June, dry and hot
    • This dip in the market is a perfect reminder that no matter what the forecasts or crop conditions are reporting – if the rally is based on hot dry weather, the second the rain starts to fall the market is going to feel the relief 
  • Markets also preparing for the USDA report tomorrow at noon – overall not expected to be a big market moving report with analysts more focused on the June 30th planted acres report