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July Crop Weather Is Huge, Successful Marketing Newsletter Says
The USDA Crop Progress Report on Monday afternoon confirmed the continued concern about emergence.
Not only are the U.S. corn and soybean crops late in getting planted, what is planted is well behind where it should be. The cool, wet spring has also created a deficit for heat units. We will have to see how the acres that were planted late get going.
- Here is this week’s Successful Marketing Newsletter.
How will the USDA adjust for the acres that were planted in June? What will we see for prevent-plant acres?
Based on the Crop Progress Report, we can make some educated guesses, but will those guesses be consistent with what the USDA publishes in its report?
The month-end report will be one of the most volatile we have seen in quite a few years.
December corn was able to break over the $4.54 resistance zone last week. The bull spreads made new highs, as well, which is a good sign for the corn bulls.
Have we seen enough fear in the market to say the high is in?
If we look at prior years when the market had aggressive rallies, then I would say we have not seen the blow-off top driven by fear.
Check out the full article to see where the next upside target is for December corn.