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Watch for Momentum Investing in Corn Market, Successful Marketing Newsletter Says

Trade will also turn focus to growing weather.

The USDA report on Tuesday surprised the bulls.

Here is this week’s Successful Marketing Newsletter.

The 3-million-acre decline for corn, in a June report, is something we don’t see very often. A 10-bushel-per-acre drop in the June report is even more rare.

Is the USDA foreshadowing? Are they trying to prepare the market for a shock in regard to acres and yield expectations for this year’s crop?

Across the U.S., there are approximately 15 million corn acres that were not planted as of Sunday, June 10.

Soybean planting progress was reported at 60%. This suggests we still have approximately 33 million acres of soybeans that need to be planted.

At what point in time will we see the towel get tossed on the 2019 planting season? If the seven-day forecast becomes a reality, the planting season may be over already.

Here is this week’s Successful Marketing Newsletter. Click to see which states still are still well behind on planting.

If we see new highs on corn, what will wheat and soybeans do?

Here is this week’s Successful Marketing Newsletter.

In general, I would like to think a bullish move to new highs would bring additional momentum traders to the long side of the grain market. They would likely focus on corn, but we often see momentum traders spread the risk out a little when there is a jump in the agricultural commodities.

This should help the entire grain complex work higher.

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