Grain Market is Teetering on the Top of a Cliff, Analyst Says
If Weather is so Bullish, Why are Funds Selling a Stronger Opening Every Day?
By Ray Grabanski, Successful Farming
Agriculture.com - 6/8/2021
The grain market is wavering Ė like itís teetering on the top of a cliff.†
Of course, we donít know which side it will fall on (up or down), but itís certainly going one way or the other. There is a bullish forecast of warm/dry weather, but in June, that isnít very threatening weather. In fact, warm weather is good early in the season in northern areas to get things growing.†
Dry isnít good with it, especially for HRS wheat areas that havenít recently received rain (which is most of the U.S. HRS wheat area).† For corn and soybeans, if this weather lingers into July and August in a 2012 like fashion, Katie, bar the door for the upside!
But, if weather improves to wet and warm from here, then Katie, bar that door to the downside...