Hope everyone had a GREAT 4th and a safe one.
USDA threw a 105 mile fast ball right past the corn shorts and even a change up to soybean BULLS. 92 mil. corn acres is a slight game changer for the position of short players. Now the weather.
One MUST have a plan to reward this rally.
Dec. Corn by the numbers
High in Jan. 404.75 and a low in June 322
618% = 373.25
50% = 363.50
0% = 321.50
10-12 days more of this Heat and no rains possible rally 393-395
IF a trend line yield we would still be around 2.7-2.6 carry.
Weather to be watched late July into Aug. for soybeans.
Keeping this short.