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Gary's Blog 07/08/26 1:29:55 PM
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7-6-26 Crop ratings G/E %
TW LW OH
Corn 67 67 55
Beans 64 65 54
7-8-26
The rally came to an abrupt end about 10am this morning as selling took over the CBOT to finish the day. A combination of events was to blame as geopolitical risk heat back up. (US/Iran conflict) Midday weather forecast has gone slightly cooler pushing the heat dome further west in the extended. It’s hard to predict weather patterns more than a few days out causing some conflicting information between the GFS and Euro. Traders might also be banking profits from the recent runup until forecasts come together and paint a better picture. (more consistent between the two)
7-7-26
The market held on to yesterday’s gains and pushed higher around midday. China demand for US beans was likely the main driver with weather not far behind. Forecasts are suggesting a hot/dry July in the central US which isn’t ideal for pollinating corn. Trendline yields are needed at current demand levels for both corn/beans. Traders don’t want to be caught short if yield potential starts to slide due to unfavorable weather conditions. Wheat harvest is 90% complete in the area and should finish up by the rain on Friday. Yields were solid but not as good as the past 2 years.
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