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Mascoutah, Illinois | Is there much to shake loose? I believe a great portion of it went straight from the combine to the elevator. We don't know what the market has priced in for planting intentions next week, but the forecast shows no signs of warming up in most parts of the cornbelt in the ten day. Granted it doesn't take long with the big equipment to hammer in quite a few acres, but the weather has to cooperate to do so. The weatherman in St. Louis (Dave Murray) gave his three month forecast for March through May and he has been dead wrong so far. He said after March 10th, we would see a significant warm up and it has been quite the opposite here. We had a very warm day last Friday but that was it. The ten day shows no days above 55 degrees and we have rain and snow predicted for the weekend. The pattern looks wet in the latter part of next week here also. It could be a monster roller coaster ride as I believe a weather market will materialize very quickly because the cupboard needs some replenishment early this fall. This market could tack on a $1.50 in a hurry and any signs of good weather could send it the other way also. Until we break below $6.70ish-$6.80ish, I believe you have to play this market to the long side. | |
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With so many scared to death this market will retreat......will it reward those that are brave?
