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Jim Wyckoff

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Recent Pause in Grain Markets Rally is Not Bearish

June 7, 2019 by Jim Wyckoff

The grain markets have seen choppier price action this week. U.S. Corn Belt weather patterns have turned drier for the next few days, which will allow farmers to really pick up the pace of planting corn and soybeans, before some more wet weather for the region returns by later next week. Even as the weather turns drier, the record or near-record slow planting pace for U.S. corn and soybeans is likely to reduce production totals this fall. And traders do not want to go home too exposed on the short side of the grain markets on Friday because summertime weather forecasts can and do change quickly. It’s very unlikely the weather market in the grain futures has already played out. Stay tuned!–Jim

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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