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Dryness
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w1891
Posted 8/6/2022 07:34 (#9782839 - in reply to #9782356)
Subject: RE: Dryness


S Illinois
In 2012 the corn market rallied $3 in little over a month from June 20th to July 20th. The market had a good handle on the drought. The problem this year is the market was already at a high level from other supply/demand factors which enticed outside money. Now those fear factors are leaving and some areas of drought stress are not enough to drive the price to new highs. Simple US supply and demand never warranted $8 corn. How would your outlook change if we were in that $5 range in June and have a rallied over a dollar? Don’t worry the market is well aware of how good and bad this crop is. The market is a whole lot bigger than if the national yield changed by 2 or 3 bu.
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