Posted on July, 10, 2024 at 09:29 am
While prices are much lower than producers would like, the grain market remains stable. However, recent weather events have traders prepared for potential trouble over the next few months.
“We’ve had generally cooler and wetter conditions, and in some areas of the corn belt than had been expected still. A lot of what my thoughts are about where we’re going in the future has to do with whether we maintain such positive supportive crop, whether or not still lean towards the majority forecast of hotter, drier conditions coming later on, and balance of July on into August, September. So the next 90 days tell the story,” said Dan O’Brien.
Market analysts warn farmers and traders should closely watch weather forecasts and crop progress in the weeks ahead. They say those details will help producers make the best decisions about market movement and crop profitability.
Source: RFD TV