The weather forecast had changed overnight, indicating the heatwave that plagued the crop output might soon be gone. There is a good chance of rain in Minnesota and the Dakotas in the extended models in early August. On top of that, the 30-day August forecast is now for seasonal temps and above normal moisture in all of the Corn-Soybean belt.
The grain markets may be setting up for a late-month low again in July. If you look at the days when the corn and soybean markets have bottomed each month, then you see the markets have consistently put in a low between day 25 and day 31. This pattern has been in place since January. With the supply side having a boost and the demand-side remaining stable, the price may be on a downward trend.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
