We may be looking at some more opportunities to sell commodities on some rallies driven by weather concerns over the next week or two.
Volatility Will Reign as U.S. Corn Crop Races to Maturity
The U.S. corn crop has endured a lot this growing season. In the spring, the crop experienced excessive moisture, primarily in the Northern and Eastern Corn Belts. During the summer, the crop was challenged by below normal temperatures generally across the belt. In addition, spotty hail and wind damage was experienced in many locations. The crop is finally approaching one of the last hurdles to a record crop and that is the ability to reach maturity before a freeze has a large detrimental effect on the national yield. If this week is any indication the market action over the next two weeks will be wrought with volatility as we await the results of any cold weather impact on the U.S. Corn crop.
(Exerpt from FuturesFiles Commentary)
